Fuel pressure dropping while driving and under acceleration to zero at idle runs 4 lb electric Blue

Because the fuel is going somewhere other than the carb. That’s why the pressure is dropping.

I mean it could be that the bypass valve in the pump is stuck half open or some of the vanes (or whatever they call them) are stuck halfway in their slots.

If your pressure is dropping the fuel is either A) going somewhere it shouldn’t be or B) the pump has a mechanical issue that keeps it from producing enough fuel to make any pressure.

That’s why I said check the fuel pressure in the line going to the regulator. It needs to be 15-20 psi. If it’s not, you need to figure out why.
I will check that fuel pressure as you suggested and see what it is. I was just told today by an old guy that the reason you don't have fuel pressure is cuz it's free flowing. It's flowing around and around and around with the return line. I have a 3/8 supply and a 3/8 return. So when I took the big hump out of the fuel line which was acting like a restrictor now there's nothing to slow the fuel pressure down other than the float bowls but it must be going past that and going right back into the tank