Steel braided line for return?

Sure. But if you EVER have plans for either / or EFI or a high performance fuel system with a big pump and return regulator, I'd run larger than 1/4"

As expensive as that stuff is, tho, might be easier and cheaper to run steel

Now that you mention it, it is close in price. Rightstuff has the steel fuel line, 69-72 Dart, for $95 for Stainless prebent. I am thinking now that it might be worth getting this and keep the 5/16 fuel line for the return.

Would I be able to route prebent 3/8 fuel line next to the existing 5/16 line?