Well, I did a little checking with Google on fuel filter use, and the concensus seems to be that it's better to push fuel thru a filter than pull it thru. Typical comment on a F**d service page:

"Fuel should be pushed through the fuel filter. Pulling fuel through a filter can cause cavitation."

Most of the filter manufacturers sell the inline cartridge-type filter (the ones with the arrow showing fuel flow direction), and they speak of having it located "away from heat and mechanical obstructions", they don't comment much on location. Remember, though, many vehicles nowdays have the fuel pump located right in the fuel tank - let's see ya put your extra filter upstream from THAT.

I think that I'll probably install my filter just past the fuel pump - I agree with what Jim Karras pointed out about having the filter mounted above the exhaust manifold isn't a good idea.