For a different point of view, I use an electric fuel pump and have for over 20 years. I ran the oil lines over and out through the blank-out plate for the fuel pump and mounted my spin-on filter over on the passenger side of the engine (where there is more room anyhow). It has been working fine for years now. You could combine this with the bypass filter if you wished.
~ Jon 1952 1/2 ton with 1959 235 | T5 with 3.07 rear end