running out of breath in the 1/4 mile

Looooong story short, I got a fuel pressure gauge installed on the line and I'm only reading 3 PSI at idle
That seems a bit low, doesn't it?

Yes. Unless you have a plugged filter or sock in the tank or something, it's probably a bad pump. You might want to blow the lines out and check any rubber lines in the system to make sure they're not kinked or collapsing, but chances are a new pump will solve your problem.