During the engine replacement, we decided to replace most of the old fuel system as well. The lines were past due for a change, and I never did like the layout of the separator and fuel pump.
I changed to a more modern spin-on filter/separator from Racor, and a solid state fuel pump from Facet.
The pump is supposed to be located near the tank, and preferably below the fuel level, since it is designed to push, not pull fuel. To accomplish this, I installed it just aft of the tank, under the galley sink. Unfortunately, there was not a good location there for the filter/separator, so I moved it to the engine bay where it would be more accessible for maintenance. It would have been better to put the filter before the pump, but that was not really an option.
The new engine used a 5/16″ fuel line for both the intake and return. This is different from the original, so I had to change out the fittings at the tank as well. While I was at it, I also changed the shutoff to a stainless steel 1/4 -turn ball valve, which I much prefer to the old pet-cock style that was there before.