That's good, but you can't have an open line back to the tank then. You have to restrict it down, otherwise, fuel will damn sure head back to the tank rather than to the needle and seats.
Fuel, like electricity is lazy and will ALWAYS take the path of least resistance.
Soooooooooooooo that means you need to make a restricter for that return line. Once you do that, you SHOULD be able to use the regulator to set pressure.
