Jim,
I've done it. Here was my problem. All pressures were fine with my truck 20+ psi (except WOT). I put extra shims in the overflow valve and of course the idle pressure and part throttle pressures came up, but WOT would still fall off. I also don't like the idea of high pressures at idle with the stock lift pump. Why work that thing any harder 95% of the time when you don't need the pressure.
My fuel pressure was falling all the way down to 3psi under WOT. So I changed my fuel filter. No difference. Then I changed my lift pump. No difference. Like you, it wasn't a problem under most conditions, just when I have the pump turned WAY up.
So I installed an auxillary pump. I used an electric pump designed to run all day at 50+ psi. I have a separate filter and pickup in the tank that I ran down through the top of the tank. I have a screw on high pressure (200+ psi) fram filter and 3/8" line from the tank to the banjo fitting on the P7100.
With the pump off, I have stock pressures. When the pump turns on the pressure jumps to about 45 psi and maintains 40 psi at ALL times.
I think it's a great system myself. I don't think electric pumps are nearly as reliable as our stock pumps. So I didn't want a system that relies solely on an electric pump. I also didn't want to give up my fuel heater. I don't like cranking the pressure on a stock system all the time by shimming the overflow valve because it is harder on the lift pumps and causes premature failure.
This way, I have a system with the fuel heater, just as reliable as stock and when I need excess fuel volume I flip a switch and have it available.
I haven't dyno'd it to prove anything, but the barrels on a P7100 will fill faster with 40 psi of pressure than they would with 3 psi of pressure. So it SHOULD help at high fueling rates and high rpm.
-Chris