Fuel system

I have what is probably a dumb question that should be easy to answer, but i just cant seem to find out what it is by googling it.. im doing lca’s and torque box reinforcements so while im under there im giving everything a look over, and i see this black circular box type thing that my inline holly pump goes to. Im really only just curious as to what it is and does, its the first if noticed it there haha. While im on the topic of fuel i also want to ask opinions on my fuel system right now. I have a holly mighty mite 4-7psi pump and a edlebrock carb, i dont have a inline pressure regulator, but i havnt had any issues so im not sure if i need to have one or what.. also the way the previous owner set this thing up is he seems to have ran a rubber line to connect to a metal line coming out of the tank, then the pump goes to that black thing, comes out a rubber line and then connects back to a metal line under the car, theres 3 metal ones and only 1 is doing anything.. and then the metal one goes behind the inner fender, connects to a rubber again right behind the tire which seems wrong to me,then to a filter to the carb. So basically i want to know(if i put that to where a human can understand) is is this “right” or even safe? I also am having subframe connectors welded on when im done with this and it seems it will be right near those lines and lets just say i wouldnt want to be the one welding near it all.. is it advisable that i just buy some of that stainless wrapped fuel line and change it all out and rout it differently or should i be ok?