I did some searching but couldnt find an answer.... I just did a TBI to carb swap and i was given a AFPR and i bought a FPguage. I used it and the guage only read around 2.5psi. I replaced the Fuel pressure regulator to the holley max FPR (4.5 - 9 psi) and replaced the fuel filter. The highest i can get the fuel pressure adjusted to is a little bit over three. Im stumped, is there anything else i could try before looking into a new fuel pump?

Plug off the return line and give it a try. Be prepared to shut off the power quickly in case the pressure does come up and overwhelms the carb needle/seat.

For the record, where do you have the pressure gage installed?

The guage is around 10 inches from the carb.... the 3/8's fuel line goes from the hard lines coming from the back RIGHT to my fuel pressure regulator. The low pressure line from the FPR goes under my power steering pump and up behind my water pump. Ill try making it so the fuel doesnt have to climb a hill before it hits the guage...

That little "hill" is'nt any concern at all. What type of gauge are you running, liquid filled or non liquid filled.

Reason being 2yrs ago 3 of my pit buddies installed Summit FPG non liquid filled and after a few rounds of racing they would register zero lbs of pressure, but the cars would run great. These little gagues are extremely subseptible to heat, the heat off the motor is enough to make them in accurate.

I have a Holley liquid filled gauge on my regulator at the carb, I later installed a Autometer fuel pressure gague up under my cowl. When I first start the car cold the under hood gauge reads right at 8.5psi where I have it set. After it's been running awhile it goes as high as 15psi while the gauge under my cowl still reads 8.5psi.

Easiest test is to take it out and drive it. I promise you with fuel pressure as low as what your saying that car will not go WOT-it will spit and sputter with MAJOR lean out condition.

Alright well as i squeeze the return feed, the harder i sqeeze the line the higher the pressure gets... So what does this mean?

Since you have the regulator set to your desired pressure with the return line, once you pinch off the return line it goes into the basic "dead head" version of a fuel system with no return line and will naturally increase pressure you see at the gauge since the fuel is being backed up with no way to relieve pressure.

Are you able to take a picture of what you have right now and post it, would be much easier to see exactly what you have and help in figuring out the problem. After many problems with both the non liquid filled as well as liquid filled I have since taken away any trust in those 2" gauges I once had. The ultimate set-up would be a good Autometer 2 1/16" or 2 5/8" fp gauge running off the regulator mounted with gauge away from engine heat. Otherwise an you could add an isolator so you can mount the gauge inside you car, but those are spendy.