I just happen to know what you are talking about.. Looks like you will have to remove the fuel pressure regulator ( the thing you are referring to), and perhaps also the idle control regulator..
Not that much fuel will come out.. You should be able to easilly catch it with a rag..
read this thread if you haven't already..
http://www.peachparts.com/shopforum/showthread.php?threadid=65863