Re: pressure tank vs fuel pump
I converted a pair of 1958 ERude Bigtwins to fuel pumps. One was done by drilling/tapping an original bypass cover to accept a fuel pump. On the other, I pulled a bypass cover from a frozen Johnson 33hp powerhead, and simply swapped it for the original on the Bigtwin. Both conversions have hundreds of hours on them at this point and never gave me any problems.
If you do a conversion, don't forget to remove the pressure nipple on the bottom of your intake manifold cover. Once you do that, fill the hole with a small screw/gasket, and make sure that you have the correct size/thread count for the screw. Also make sure that the screw is not too long - it will hit the leaf plate behind the cover if you don't.
If you don't have needle bearings in your motor, keep running the fuel mix at 24:1. If it does have needle bearings, 50:1 is fine.
PS: Notice in the photos, that the fuel pump mounted on the orginal cover is upside down. This is because the mounting point is very slightly higher than on the later bypass covers. If you don't mount the fuel pump upside down on the original, drilled/tapped cover, the top of the pump will hit the throttle control rod, during certain parts of its travel.