Here too. Both my Bronco and F350 had carbs and return systems.
If the EFI mfg says in its literature that a return line is not necessary then why would you want to install one?
You're right about adding more complication, but the manufacturer in this case (MSD) does NOT recommend against one. They simply give you a test to answer multiple questions to see if it's more appropriate for your setup or not. This in order to simplify for those that truly don't "need" one.
But the questions are pretty basic, and in most cases you will find that they really are recommending one for you. In broncobusted's case, I can almost guarantee that he's got a "YES" mark in enough boxes for them to recommend a return system.
And if on the fence about one in any particular setup, why would you not go to the extra trouble if it would help in some cases. Even if only potentially.
Is there such a thing as a return line fuel pressure regulator? Never heard of one.
Every OE pressure regulator that I've seen is in the return section of the fuel lines. At least for our sake, we can talk about the Ford 5.0/5.8 setups prior to the Explorer returnless computer. Every pressure regulator is on the output of the fuel-rail, which essentially puts it in the return line.
I don't think anybody calls it a return line regulator, as opposed to simply a pressure regulator. But that's what it is.
Every simple FPR that I know of from the aftermarket (above the most inexpensive minimal carburetor rated ones) has a return port available. Which does not necessarily make it a "return line regulator" since it's for all intents and purposes still in the input section of the fuel system.
But if you're adding an aftermarket regulator to an EFI setup with fuel rails or a return port in the EFI (most?) then it's mounted to the output side, so still effectively in the return system.
Paul