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I have read where they tested a Holley Blue pump with the matching regulator and the pump would free flow 110 GPH into a bucket without the regulator and then with the regulator installed and set at something like 6PSI it would only flow 70 GPH free flowed into a bucket. So, yes the regulator does use up some of your flow potential.

Gee...and a stock 440 pump will give you 72 at 6 psi. Holley blue pumps are Nitrous enrichment valve pumps at best.