Ok, Lets get it started. I don't know what the deal is going to be with the T loop, but lets assume it will be fine and forget about it for now. I'm a little worried about the filter between the reg and carb, so at some point in the next few days, I'd move the filter to before the regulator. Is the regulator near the carb?
The stock fuel pump is scaring me a little also. It will get you through driver school, but you'll probably want to go to a bigger pump when you start really leaning on it. If you want to go to a bigger pump, Summit racing et.al. can overnight one to you. In the mean time, lets sort out what you've got. Let me know if you need a part number for a carter pump. Also, are you certain which Holley regulator you've got? Holley's standard regulator is around 3-7 psi, and the low pressure one is 1-4 psi.
If everything's hooked up, leave the air filter off and throw a brick or something on the gas pedal, have someone hold it, whatever. Do this with the engine off. Please. Look down the primary (smaller) venturi's and make sure the throttle plates are straight up and down. If they are not, consider whether or not you need to adjust the throttle cable until the throttle plates open all the way. It's adjusted with the lock nut you tightened when you put the cable on the carb bracket. Also make certain it shuts all the way when you let off the pedal. There is also a pedal travel limiter on the firewall if you get desperate, but you usually don't need to mess with it. While the throttle plates are open, make sure you can fully open the back ones to straight up and down by rotating the linkage manually.
If you think the throttles are opening fully and everything is bolted down tight, get the pump to fill the carb and fire it up. Let it warm up, make sure nothing leaks. Check the level in the float bowls, it should be just below the center mark in the windows. If the idle needs to be adjusted, its the screw hidden down on the linkage assembly at the back of the carb. Don't worry about jetting, fuel pressure, ect. until you get it to idle good, no leaks, float levels. If one of the float bowls is overfilling and it tries to flood at idle, don't worry. The needles sometimes seat poorly right after UPS gets done abusing it. Try tapping on the bowl lightly, keep the revs up with your right foot, let it run for a few minutes and then recheck. Worst case, take the float bowl cover off, make sure nothing is in the seat, blow off the needle, reseat and try again. sometimes they work fine, sometimes you need to talk nice to them.
When you get done with all that, hopefully you'll be feeling better due to the fact it at least runs. Let me know which regulator you have and I'll give you an idea of what to do next. The gauge you've got is probably going to be accurate to +or- 3psi at the range you're looking for, so if its not already on the car don't worry about it.
Have fun! The stressful part shouldn't come until you practice starts. And assuming this is your IT car, do you have the steering lock drilled, cage is right, belts and helmet dates are ok?
