I spoke with Jarrod at Aeromotive, he thinks its normal for the fuel pressure to drop the instant the throttle blades close, due to a spike in high vaccum seen by the regulator. The important part is that the pressure rises once the vacuum is taken off the regulator for wide open throttle operation and acceleration. I also did a flow test and got 1.5 gallons out the return on 11.5 volts at the pump in 1 minute. Thats over 500lbs/hour, way more than whats needed to supply a 500hp engine.Running voltage is 13.8v which increases flow a lot.
It appears the filter was the reason it was not rising, a restriction in flow, Ive found out that a fuel system is at its dirtyest when its new especially when a new tank is also in the equation. Jarrod told me he's seen them clog up in 100 miles from new. contaminants in the tanks and pump during manufacturing along with crappy fuel.
Thanks again for the help and change your fuel filter on those new built cars

Rich