Yeah, a bad regulator would at least make some pressure. You can get a 225lph pump on eBay for about $50. Replaces the stock pump, and leaves plenty of room for upgrades later if you should be interested.
1991 Mustang LX 2.3L 5 Speed convert
1989 Ranger 4X4 2.5L 5 Speed solid Dana 30 front axle, 4.5" suspension lift, 3" body. ( blown up....)
Entire turbo kit waiting to be used again.