@folkenheath may I ask why you prefer the adjustable regulator over the vacuum referenced one that it's possible to use with the PF4?
Maybe you stated previously and I don't remember.
Side note, I am really curious about the volcano modification, but I can't seem to make it a priority to do yet.
The adjustable one is still vacuum referenced(I don't recommend you use one without vacuum reference),
and they are adjustable. That is why I prefer them. So with the Edelbrock, it allows you to use any of the tunes, not just half of them. And with other EFI systems like Holley and Fast, it allows you to set the fuel pressure to whatever you want, I have mine set at 50 because it increases the flow capacity, and I don't need 58.
So I guess the main reason is because its both, vacuum referenced and adjustable. Most adjustable units are also rebuildable, a new diaphragm and spring and its like new again.
As for the vacuum reference, think of the vacuum reference as an equalizer. The injector sees the differential(delta) pressure between the fuel inlet end, and the manifold port spray end. When you have vacuum or boost, it increases or decreases the pressure at one end, but not the other. Once you reference it, the pressure differential is nearly always the same. So if you have 43 psi of fuel pressure, and 20 in of vacuum, that's almost 10 psi(9.8) of vacuum, so now the delta is 53 psi, when the reference port back it down to 43 psi again. The increases the resolution, or control, at the smaller delta pressure, which is important at idle because you get finer control of the fuel amount.
Or if you have boost of 10 psi, then the delta is only 43-10 or 33 psi, and then you lose capacity, so boost referencing puts it back to 43 psi delta again, and you get your flow back. This is especially true in high HP cases, imagine running 50 psi of boost with only 43 psi fuel pressure, if you did not boost reference it, you would end up pushing air into the fuel injector at 7 psi! If you did boost reference it, you would end up with 93 psi of fuel pressure that the pump sees(the pump inlet is still at atmospheric pressure), but still only 43 psi at the injector delta.
This makes it easier for the computer to compensate too, especially since the Edelbrock tunes assume you are manifold pressure referenced.