Ok. So I just bought a 89 Formula, and am in the process of tearing it down and building it back up. When I tore out the interior, I noticed that the previous owner had done the cut above the fuel pump technique. This was not new to me, what was new was this.

As you can see those lines have been caped with a rubber hose. My question is what are these lines for, and why would someone do that? I am going to switch the car to carb, so maybe this will be beneficial?
Heres what the fuel lines look like in the engine bay.

 

One of those lines goes to the charcoal canister thingy, the other is for the fuel tank pressure relief check valve, not sure that is the proper name for it tho.

 

My best guess would be they were going to put a carb on it and either use the stock pump with an external fuel pressure regulator, or maybe they tried to set it up to pull through the pump, or possibly fabbed some kind of pickup in the tank and use an external fuel pump.

I'd pull the sending unit and take a look at it. Why not take a look and see what you have, they already hacked the floor up. You can't do any more damage at this point to the floor.