Vince - You don't say (or I missed) what fuel pump you have in the car. If it is a SU fuel pump, there is no need for a pressure regulator, but if you have an after market pump you may need one, depending on the output pressure of the pump. Also if you have an after market pump, that could be the reason that the pump doesn't stop running. It is an outside possibility that the fuel is boiling in the fuel line, which would cause a bubble in the line or the filter and the pump is unable to pump past the bubble, but I would be surprised if that were happening - one of the advantages of the pump mounted in the back of the car, the fuel from the pump forward is under pressure whch will prevent that sort of thing from happening. I am with Tony, remove the fuel line from the carb and direct it into a can or jar and turn the ignition on. A standard SU fuel pump should pump 2 pints per minute - anything less and you either have a clog somewhere or the pump is failing (see my Fuel Delivery Troubleshooting Guide in the Library). An air leak on the inlet side of the pump is a posibility that the above test will show if there are bubbles in the fuel being pumped. If this is the case, I would expect a hole in the line from the tank to the pump or a gasket on the inet air bottle leaking. A rptured or leaking diaphragm happens so rarely that I haven't seen a single case in the 30 years I have been working on the pumps.
Something you said that raise an eyebrow when I read it. You said "Starts without the choke and runs like a champ. As soon as it gets up to temp & I turn it off It won't start. Acttually right bec=fore I get home it starts acting really strange and sputters like it wants to stall." Is there a chance that you have the carburetors set way too rich? If you are set rich enough to start on a cold engine without the choke, it may be rich enough to cause a running problem whenit is hot.
Cheers,