I favor fuel systems that don't run a return from the regulator all the way back down the length of the car. My Magnafuel pump has the return right at the pump, and no return from the engine compartment. I'm not a fan of running two lengths of hose that distance; waste of money on line, and just another thing that could leak/dry rot/get hit and send you home early. Obviously depends on what parts you already have in your possession.
By returning fuel right in front of the pump you run the risk of introducing bubbles and turbulence into the inlet of the fuel pump and can cause cavatation during hot weather.
Steel line should be used front to back and not hose.
