I should add that I had a lot of people question the approach of putting the regulator in the trunk next to the fuel cell (or inside the fuel cell in some cases) when I first started to help build EFI cars
the MPI 3.9L,5.2 and 5.9 gas engines have fuel pump modules in the tank with regulators built in. I don't know the year range, but a Corvette inline fuel filter/return regulator combo is and easy way and common way to retrofit an EFI fuel supply. I'm thinking part of the reason a lot of efi builds have the regulator close to the engine is because that is where it was located for use with carburetors. Plus it helps to sell a bunch more hose/tubing and fittings. If data logs show the pressure stays safe, it really doesn't matter where the regulator is.
Most of the EFI cars of the 80's-90's used return style regulators. The newer stuff uses an on-demand style regulating system that controls the pump output to regulate pressure. Sounds simple but requires a significant amount of complexity for the EFI control system, such as a pressure transducers to measure FP and give feedback to the ECM and modulate the fuel pump. The computer will also have correction algorithms to correct for fuel pressure discrepancies that are inherent of those systems. I think there are some aftermarket EFI systems that have some capability but most tuners will still want to stay away from this in high HP applications.
So in general, if you have a return style regulator with a huge pump to support a lot of power, it will generate a lot of heat in the tank due to return flow recirculating but will generate the most stable fuel pressure and in turn, the EFI tune will be more stable. The work-around solution is simply to have PWM control on the pump to limit the amount of return flow and basically giving you the best of both systems. A lot of EFI systems have that capability.
AG.
