The fuel return line is there to route excess fuel back to the tank, as well as to help prevent vapor lock and like conditions. By getting the tank reconditioned, and completing the fuel line circuits, some of your problems should go away. You should be able to get away with rubber all the way from back to front, but I would probably replace them with hard lines or SS lines at some point for safety. They came that way for a reason.
Some of the later 73 240Z came with both a mechanical and an electrical fuel pump. On earlier versions with the flat top carbs, the electric fuel pump was added to help prevent vapor lock, which these cars suffered from due primarily to the flat top carbs. You should be ok without the elec. fuel pump since you no longer have the flat tops, however I'd rather have a quality elec. pump over a mechanical. I have both in mine and it looks like the elec pump was added at some point along the way, prior to the flat tops being replaced by round top SUs.
As for the Holley carb, assuming they didn't go over 390 CFM, you should be ok, although I think that number is really more appropriate for an L28 that's been pumped up a bit. I believe the stock SU carbs were capable of moving around 250-275 CFM...Anyone?
Note that this is all based on the knowledge posted on this board and others and not based on personal experience.
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