I put a Piers overflow valve in mine late last year. It stays at around 20 psi all the time, until the filter starts plugging. The original valve had 145,000 mi on it, and stayed at around 10-12 psi (didn't know that until I put the gauge in). When I took it out, the spring was not broken and the ball and seat were still like new, I could have just shimmed it or stretched it and saved $65.
You didn't say if you have an in-cab fuel pressure gauge. I don't know if the engine would cut in and out because of low fuel pressure, (my truck just noses over when the #*!! governor de-fuels it) but the gauge will tell you what the pressure is doing any time the engine is running. It's where I would start.
Let us know what you find. Tom