Help me understand a bypass regulator location

SGBARRACUDA said
I think where my thinking has gone astray is, I'm forgetting that the amount bypassed is not a set amount. The amount bypassed depends on demand? So when the pump is on the amount bypassing is anything above the regulator setting, right? And same goes when the the engine is running, weather idling or WOT. The amount bypassing varies right?

YES. That's correct. The return amount must vary since all of the fuel is not used and the amount of use itself varies. The only constant is the regulated fuel pressure......more or less. While it Is considered constant, it can vary a small amount, but not much.