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I just picked up a 1988 Ram 50 with the 2,0 manual. I found a company that rebuilt my stock carb with lifetime warrantee. I decided to go with the holly 1-4 psi electric fuel pump, My question is if I eliminate the mechanical fuel pump, how do I connect the fuel return line to the tank, or do I just cap it off? also do I need a regulator, I have seen where some say yes and some say no.
You won't need a regulator with the factory carb. The carb has a return line but here is where you'll have problems - the Mikuni has 2 fuel inlets. One for the main fuel bowl and another for the accelerator enrichment pump on the side of the carb (this supplies the low pressure shot of fuel from standing start and is actuated at the same time the throttle is opened up). You will need to find a way to split the 2 fuel deliveries off the Holley pump (it can be done but requires a fuel recirculation cannister from earlier Mitsubishi built cars that had a single outlet mechanical fuel pump). Both fuel inlets have different volumes of fuel feeding them. If you had a car with the recirculation can in it and you mixed the fuel lines up, it would run like a donkey. Likewise with the stock dual outlet fuel pump on the truck motor.
You could recycle and pump from a surge tank? Not sure on your legalities. My pump is mounted next to the fuel tank and I have 2 long rubber hoses going from it to the engine bay, and the other back to the fuel tank. I'd at least change that to steel lines to be honest