I finally decided to bite the bullet and replace my 17 year old fuel pump with a brand new Holley (Walbro) 12-914 255lph pump. It's the only part of the fuel system that's never been replaced and I'm still getting the same problems I've always been getting.
Talking to fellow GaFBA club member Dave Emmanuel (Random Tech), we determined that my fuel problems could possibly be pointing to a pump that's on its last leg.
This is what I found when I got the assembly out of the tank. The wire running to the float had snapped off. Would it be safe enough to try and solder it back on? I really don't want to shell out the money for a whole new assembly if I can help it.

 

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Aside from buying a new one like you dont want to, your only option would be to try and solder it. I dont see why it shouldnt work Good luck.

 

Soldering it should work just fine like the post above me stated. But personally, a 17 year old unit that's broken once... Do you really wanna put it back together to find out down the road something else broke off it or the wire went bad or any number of things? Those things are a pain in the rear to get off as it is, I'd be much happier with a new unit, personally. The soldering should work fine if that's the route you wanna go though.

 

I guess soldering is my only option at the moment. I can't afford to shell out another $200 at the moment for a new unit. It'll be months before I can do that.
Thanks guys.