fuel pressure dropping over time

That filter looks like it has enough surface area to support maybe 300hp. Maybe. Might just be your pic but I can’t see a 408 making good power with a filter that size.
Good point

It made 420 and change on the builders dyno

So your thinking is that even when it's clean it will restrict fuel flow?

I can see that, at full bore, but the pressure drop in seeing is during regular traffic