Justin I'm running that exact pump on my car and location space was at a premium for me too. The location ended up with the pump in front of the tank and the fuel inlet to the pump about 3 inches higher than the bottom of the tank itself.
In over 10,000 miles of driving I've had no problems and more than a few times run the tank down to almost the E on my gas gauge without so much as a burp from the pump. The Holley red pump doesn't need any sort of regulator.
I can offer 3 tips from my experience: First, this pump is NOISEY so be sure to mount it as cushioned as possible. The little rubber strip that comes with it doesn't do much. Second, fit the hot and lead wires of the pump into a 2 prong Weatherpak connection from your local parts store and solder the wires to the terminals. Give the ground wire a good solid ground connection on the frame. Now you have eliminated any under the car moisture caused electrical gremlins. Third, be sure to run the power to the pump through an oil pressure safety switch that will not let the pump continue to operate if the engine stalls. Mr Gasket has a nice unit with both a N/C and N/O set of contacts and you can use a spare 12V three prong headlight socket to make up the wiring to it. That pump doesn't require a relay and you can wire it all with 14 gauge wire.
Hope this may be some help for you.
Mike
