Leon, thanks for the reply. Earlier today, I performed the TSB to bypass the emergency switch in the engine bay for the starter interlock system. I was experiencing the common issue where you crank the key, and just hear clicks without the starter turning over. Initially I changed the ignition switch per recommendation of the previous owner, however that didn't solve the issue in my case. I was going to augment the power wire going to the starter with one of those pre-made wiring kits that have a relay sold through some datsun vendors. Then I came across this curious starter interlock that was present in my late 260Z. Now that the interlock system is bypassed, she starts right up!
Back to the original question, what would be the advantage to bypass these factory fuel pump fail safe systems? Do they commonly fail and thus owners bypass them as a cheap fix? I did notice today when I disconnected the jumper, I couldn't hear the fuel pump operating. However, the car still started without these 2 connectors being connected to the proper locations. I did not try driving though.