After initial investigations, there were found to be so many problems with the fuel system that I didn't know where to start. A few things were obvious; for one, the filter would end up with crud in it every time there was a misfire issue. Secondly, I could easily replicate the problem. Thirdly, the pump would scream like a young child all the time, problem or not. Therefore, I decided to use my handy HF fuel pressure gauge to see what the deal was.
I started by putting the fuel pressure gauge on the line right before the rail, positioned perfectly to mist fuel all over the hot turbine housing should a rupture occur. Sure enough, after two WOT pulls, I broke down. While the car was chugging on the side of the road, I popped the hood and look at the fuel pressure gauge which was hovering around 10psi, down from 55psi. I limped it home and swapped the gauge for the fuel filter and tried it again. This showed me a that there was indeed a fuel pressure problem before the filter but the pump was still running.
After taking the pump out to see the screen, the problem was obvious. A new tank and fuel pump assembly was needed. Apparently this car sat for long enough for triassic sludge and rust to form in the tank. A new tank, pump, and filter were acquired for around $230. This morning I loosened the straps, took off the hoses, and kicked the shit out of it until the tank fell out.
And now for the hard part - since I filled the cruddy tank with fresh gas, I now have a full tank of crudgas to get rid of...which is now on the 'Free' section of craigslist. It's still outside on the curb.
As a general update, I'm a little over budget and still in need of a head liner and tires, however, it should be a pretty nice car when finished.