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Your pressure should increase as you rev because there is less vacuum at the regulator. Try this: disconnect the vacuum line to the regulator and monitor the fuel pressure at idle and with revving. It should stay the same if the pump is good.
Incredible,,, the Aeromotive Fuel Pressure gauge leaks at the thread so when I would rev the car with the vacuum line connected, the fuel pressure would actually drop instead of increase.
I put some thread seal on the threaded areas and the FP is now stable.