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Yes . the vac to the regulator is what sets the pressure according to engine vac spec.. so, if the hose has no vac., you will get High fuel pressure [ rich] .
The pressure will actualy go as high as the pump will put out.
Try to grab some engine vac somewhere and get it to the reg
with a hose to see if the reg will lower the fuel pressure...
I don't have much info on that model, so I don't know pressure specs......