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Yes, others have installed electric pumps. Two I've read about recently: one hung his on a rubber isolator near the tank (to reduce noise), another installed installed an in-tank pump. I'm not sure if they both required return lines. (One did, but it was also part of an EFI upgrade.)
If you decide to go this route, you may need to upgrade your alternator, depending on what kind of load it's already under. Most stock alts these days struggle a bit already with the resistance inherent in vintage wiring. (The alt upgrade comes with other caveats if you're working on a 64.)
The new fuel pumps available for our cars are of terrible quality, so I can't really recommend simply putting in a new mechanical pump. But, if you have the old school pump (not crimped, but held together with screws), it's possible to rebuild it, which may solve your issue.
~Steve
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