Nothing in the diagram but I figured it out.
A previous owner replaced the fuel line from the pump to the filter. When they did, they eliminated the T back to the pump return port.
I added a T back to the return port and now have correct fuel pressure

The theory is you put a PEM-controlled pump into your older car that does not have a PEM. ECM tells the PEM how much load is required for the pump, PEM adjusts its PWM duty cycle, the pump develops fuel pressure accordingly. When PWM line is connected to constant +12V, the pump thinks 100% load is ...