My facet pump is also 3.5 PSI, same as the mechanical pump. This SHOULD be OK by itself, but in my case, it simply wasn't. New viton float valves, and messing with them to be sure they were free, didn't solve the problem. The regulator did.
You really only need 1-1.5 psi to get past obstructions, flow restriction in the line, and raise the fuel from the bottom of the tank to the carbs. So, even 3.5 psi is overdesigned.
Keep in mind, also, the spec on the Facet is such that it could be as high as 4.5 psi.