I'm in the install phase of my converting my 1968 carb type fuel system to EFI. The low pressure side uses a traditional low pressure electric pump that I have to find a place to mount as well. You asked for fresh ideas, so here's what I'm doing.
(EDIT) When I first responded to this post, I probably incorrectly assumed you were plumbing for EFI, so bear with me regarding the high-pressure surge tank info. Besides that difference, plumbing our fuel systems have the same "where to mount it" issue going on. I'll be looking for a place to mount mine under the car today, but it's going to end up being positioned near mid to top tank. Mostly to keep it up and away from road debris etc.
As far as having to mount the pump at or below the bottom of the fuel tank, a lot of that depends on the pump. A large percentage of the electric pumps out there specifically state that they DO need to be mounted at or below the pick-up. On my 1970 'Cuda, I decided to run a Product Engineering pump specifically because it is rated to be mounted above the fuel tank. I have mine mounted in the trunk, well above the top of the highest fuel level. It is an amazing pump, but you can hear it( last pic).
I decided to leave the following info for those who may otherwise need it. Sorry for my initial mis-directed response.
I'm running a surge tank, fed by a low pressure externally mounted (traditional electric) pump that feeds from the fuel tank. It pushes the fuel up to the front of the car where it fills up the surge tank and then returns to the fuel tank, all at 0 psi, but high volume. I'm going to mount a new tank, modified sending unit, fuel and water separater, a pair of 3/8's aluminum fuel lines and low pressure pump this weekend. I will post more pics later.
The surge tank I picked uses an internally mounted pump, of your choice, to feed the high pressure, high-flow, bypass-regulated, high-pressue side of the system. I've attached a diagram (showing and externally mounted high pressure pump), but you will get the idea.
The main benefit of this type of system is that it is extremely resistant to allowing air into the high pressure side of the fuel circuit, even at high g's and low fuel levels. With your sumped tank, it will be even better. I'm using a stock, un-sumped tak with 3/8's feed and return.