need advice fast.

i have a 86 mustang that was a 6cyl. fuel inj. and i swaped it to a 302 carb. i bought a holley fuel reg with bypass from summit and a carb and it ran fine for a week. now it won't stop flooding the carb. i have adj. everything and still does it. my guess is the reg is defective. my question is i am running a holley in tank pump i am not sure if it is the 255 or not i forgot what the guy told me when i bought the tank and pump from him. the reg. is the hly-12-803bp. is this the right reg. for my app or do i need to send this one back and order a diff. is so which one do i need now? thank in advance for the help.

it got a brand new pump in it i don't have money to buy another pump.

i called summit and they told me i need to use the mallory fuel reg with return. it is maa-4309. so i am sendin my stuff back and exchangeing it for that one. guess i will see. the old one worked fine til i added more gas in the tank cause i ran out. but i was told to get that one cause i did have a stock fuel pump in the tank but i later found out before i hook stuff up that the old pump was dead and then found a tank full of bad gas and all rust so i bought this guys tank.