My understanding of the FI system is the Fuel pump pressurizes the line from the pump to the Injectors. The injection systems have the return line to bleed off any excess pressure. Even with the bleeding of excess pressure, the pressure at the injectors is 35 to 40 psi.
Other, more knowledgable, members will be able to tell you more, but, if it were me and I wanted to keep the same fuel pump, I'd leave in the regulator and the return line.