Here's the basic way to look at it. A mechanical gauge has to be connected to the process fluid, in this case fuel. To do this safely and keep fuel out of the cab of the truck, it utilizes an isolator (a diaphragm) and a fill fluid (in a hose between the isolator and gauge) to transfer the pressure from the process fluid to the gauge. An electrical gauge uses a electric sending unit which takes the pressure reading, turns it into an electrical signal, sends it to the gauge, and displays the signal as a value on the gauge.
You can use either type gauge with either type pump.
I used to think poorly of electric gauges because I didn't trust the electronics. That was years ago. I still don't like the idea of electric gauges but with the fuel pressure gauge, I liked the idea of not having to use the isolator. Plus I had a friend that used a mechanical fuel pressure gauge and he said no matter what, his gauge would never drop back to 0. The isolator apparently held pressure on it or something.
Sorry, so long. Hope this helps.
Jeff