I would find out why it's not providing fuel; it worked all these years; it worked at one time so why is it not working now. It's better to keep it stock. Either the fuel pump is shot, the rod is worn to short or a few other things. I'd check that the rod has the correct travel, you can blow through the hose back to the tank, you can blow into the carb and make sure the needle, and seat will open and if that's okay, buy a new pump
If you are not going to use the original fuel pump, then you do not need a flow through fuel pump when it's off. Those are used for when you just want to use the electric pump to start the vehicle but then need you will turn the electric pump off and run through the mechanical pump. The electric pump has to be open in the off position for that to happen. Very few pumps are made that way. If you are "not" going to use the mechanical pump, then you do want the electric fuel pump that is closed when it is off. You want to pick a pump with the "pressure you need", do not pick a pump with higher pressure and then install a fuel pressure regulator, nothing but trouble. At least the ones I tried twenty-years ago were. Install a "large" fuel filter between the pump and the tank and then mount the pump close to the tank. I use rubber fuel injection pressure hose because it is far superior to the carb hose.
I've read that 8BAs do not need the fuel pump rod's hole plugged like the earlier blocks do. I would research that to make sure it is true. I did block off a 59A fuel pump rod by just raising the rod off of the camshaft by welding a nut to the rod to lift it up, it just floating in the hole. I let it dangle in there from a piece of aluminum with holes drilled for the oil breather That way the rod is still in the block, just raised off the fuel pump lobe and if I want to go back to a stock pump I can quicky change it back. It still has the brass bushing in there.