OK, yes we have progress! Took the fittings out of the pressure regulator and cleaned off the teflon tape and put them back together with Permatex. Installed the regulator back in the fuel line and adjusted the pressure down to 5.5 lbs. Reinstalled the filter ahead of the regulator, and all is well. May be my imagination, but the engine seems to run "crisper", but it is certainly much better seeing the lower pressure at the gauge now! Went over to my friends house after working on the truck for a swim in his pool and a couple of cold frosty ones, summer is here, for sure, in Southern California!