+1 to the above regarding the electronic ignition. I wired the up HEI style ignition on my '65 Newport (uses a factory '73 electronic distributor )and it works a lot better than even the Mopar electronic setup. I wanted to do away with a ballast resistor. I ended up with a smoother running car. If something goes wrong, I can go to any parts store and grab an HEI module dirt cheap. Or do the Pertronix conversion if you already have a decent points distributor.
Tell me more about the HEI style? Did you use the original Dist? And how is it wired?
I've also went to the more expensive box type ignitions a few years back and feel like they were not worth the money at all and didn't perform any better than an HEI style setup. My MSD had these spells to where it was really hard to start. Never again. Your experience may vary...
As far as electric fuel pump, I am about positive that the Holley Red Pump has a fuel pressure preset of 7 psi and is supposed to maintain about 5. No regulator needed/required.
Holley 12-801-1 97 GPH Red Electric Fuel Pump