Fuel flows through the rail, and the FPR stops flow until it reaches a certain PSI, and regulates it. Replacing the FPR will most likely remedy your issues. I would first check to see if your fuel pressure gauge is accurate to begin with.
I have the aeromotive FPR and personally like it - a fuel pressure gauge can screw into the front of it so you can know your fuel pressure at all times. You will need 2x ORB/AN to hose barb fittings with your regulator since you do not have AN fuel hoses.