1. The electric pump is a cinch to install. It just bolts onto the undercarriage. Then you splice it into the fuel line and run a power wire back to it. I wired it into the ignition fuse in the fuse box. Carter recommended installing an inline fuel filter between the tank and the electric pump. I think the whole job took 1 1/2 hrs. Some guys run an electric pump and a mech. pump. I just yanked the mech. pump and bought a chrome cover for the hole on the block.
2. My comment about the worn cam lobe was just a guess, but this is the first time I've ever heard of a mech. pump ticking. Someone else may have a better idea of what the problem is.
But IMHO, the electric pump is the way to go. Like I mentioned above, I noticed an increase in power. You also avoid the possibility of a vapor lock due to the fact that you're getting a constant 4-5 lbs of pressure through the fuel line. I installed my electric pump almost 8 years ago and haven't had a fuel delivery problem since.