1. Yes, but if you have a regulator on your fuel rail, you can gut the one in the tank like I did.
2. No. It uses a return style.
3. I suppose, but see #1.
4. 3/8" lines are what the LS1 tank uses. Its worth it, not much added expense.
5. See above.
6. Hose clamps.
7. They average $150 and less.
8. Why would you want to do that? It feeds a 5.7 litre which is fine for your V-8. If you add a super/turbo charger down the road, Racetronix sells higher output pumps.
EDIT: Here's the link to the Racetronix pump
And here is a picture of the fill bucket (line on the left is return, middle you can plug, right is feed):