I have found those Edelbrock Performers don't like more than about 5 to 5.5 pounds. Above that you will get stalling on hard braking or hard cornering. Edelbrock explained the reason to me is that under hard braking or cornering, the fuel in the bowls moves to one side or to the front and allows the floats to drop, opening the needle valves and flooding the carb. Keeping fuel pressure down reduces the ability of the pump to push the needle valves open when the floats don't have enough fuel under them to overcome the pressure. Does that make sense? Anyway, when I reduced my fuel pressure from 6 to 5, it really helped the stalling, but did not completely eliminate it. I'm going to try raising the floats a little next time I have reason to open up the carbs. My thinking is this will keep the bowls fuller and reducing sloshing. Might just flood it worse... we'll see.
On your regulator, yes you can plug one of the outlets as long as it is NOT a return-type regulator, which requires a return to function properly. There should be arrows or labels on each of the openings. My Holley regulator has labels and arrows cast in. The bottom opening is "IN" and the two side openings are "OUT." This is a "splitter" type regulator for dual-feed single carbs or two single-feed carb set-ups. The instructions say to plug one "OUT" opening for single-carb, single-inlet applications.