G'day Sean.
I'm running carbs that prefer to be drip fed or gravity fed. Rather than make a return and reservoir (surge) tank I'd take the punt on limiting the stock pump first (budget).

So people have made surge tanks with a return and I've heard of a float and valve system. I would like to skip all of that with a simpler more logical arrangement (maybe).
Here are some thoughts:
Does the pump share a cam lobe that also works a tappet? Or does it have it's own lobe (If I recall right it does?)?
If it did have it's own lobe I would simply carve the lobe down until it raised the fuel pump arm much lower (for longer??) so that the diaphram would be moving much less, therefore pumping much less fuel. Here is a pic that might help (obviously inaccurate but representative):

If the pump does share a lobe with a tappet then would it make sense to alter the pump arm in a manner that would reduce the diaphragm lift(and fall)?
Am I making sense??