The only way it'd work on a dead head system, is if you place the regulator at the surge tank itself. You'd need one of those 3 port regulators, where you use the two side ports for inlet and outlet and then the return back to the swirl tank. The problem is, the further the regulator is from the injectors, the more it tends to empty the rail. So I'm not sure how one would tune that, but it's possible to get it done.
No no, this tank is designed to mount the pump in tank; there are tanks in which it is gravity fed, but having the pump in tank also helps cool the pump