fuel return line

so, im a slow learner, but i just had an idea
i think it is time to upgrade the stock fuel lines
as it sits right now, im running 5/16th from the tank to the mechanical pump, and AN-6 lines from there to the (non return) regulator, and into the carb

so, since im thinking or replacing the stock fuel line with a 3/8th line...would it be possible (and smart) to leave the stock line in place, and plumb it in as a return line?

swap out the regulator for a return style unit, and replace the sending unit with one with a return inlet, and done, right?