I assume you mean a fuel pressure regulator adjustable to 75 psi.
If you want to tune a stockish motor, you can get a few ponies out of it by tuning the fuel pressure. Ford sets them up a bit rich from the factory.
If you plan on doing any worthwhile mods, get the pump. Most Mustangs stock pumps die in about 10 years anyway.
In short, do them both.
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1988 Mustang GT
12.0 @ 121 on radials
S-trim Vortech sitting in a box!
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