Still having hesitation issues. I checked the fuel pressure today and these are the results. Its a 1989 W100, 318, TBI.
There is supposed to be 14 to 15 pounds of pressure with the pressure regulator hose removed and 18 to 20 pounds with the hose attached. With no hose the pressure was 22 pounds. When I removed the regulator hose the pressure stayed the same. Haynes says to pinch the fuel return line and if the pressure rises sharply then the regulator is bad. When I pinched the return line the pressure started going up and the truck died. So I am assuming I have a bad regulator.