More fuel system questions. Need opinions.

[Critter]

I'm just kicking ideas around. I currently have an early 80s style blazer tank in my 72 K5. Being from a carbureted blazer the tank has no baffles and uses barbed fittings on the top for fuel line connections. I like this tank because A) its 30+ gallons, B) it's in good shape, C) I already own it and don't want to waste money if I don't need to. I am working on transplanting in a 2006 LQ4 along with a frame up rebuild on the K5. So here is what I'm thinking.

Can I keep this tank along with its sending unit etc, put a high quality electric fuel pump on the frame and supply it with barb and clamp style fittings? I would then go from the fuel pump to the vettes style filter/regulator with high pressure line and of course from there forward use high pressure line to the 6.0 engine. Also, for the return off the filter/regulator I would use lower pressure hose and barb type connections back to the tank. My line of thinking is that the supply and return wouldn't be under the pressures of the main line going to the engine. Would this set up work??? Am I totally missing something??? What would be the downfalls of doing this? The baffle-less tank is something that everyone online seams to think is a no-no but I'm not sure why exactly.

If I need go out and buy a new baffled tank with sending unit and in-tank pump with all high pressure lines I have no problem doing that, I just wanted to make sure it was neccesarily. Please feel free to leave long winded detailed replies that look similar to this long winded question I just typed.