Fuel pressure regulator

It depends. If you have returnless fuel system, meaning only one fuel line between the gas tank and engine compartment, the fuel pressure regulator should be part of fuel pump assembly. If there is a fuel return line from fuel rail to gas tank, the pressure regulator should be on the end of fuel rail. I did look up fuel pressure regulator for your vehicle in online parts book, the pressure regulator wasn't listed which usually means, it's usually part of fuel pump assembly. Just my opinion. good luck

The regulator only controls pressure, so it either blocks return to the tank or allows all pressure to flow back. If it blocks flow the pressure would be too high, wide open would keep pressure low.
You connect a pressure gauge to the system and if it is low, block the return line to the tank to recheck.
You may have to bypass the pump relay to keep the pump running during the test.

23 psi is no where near enough to run let alone get past the regulator so no gas will return to the tank. Need 40 to 50 psi to run. So either you have a fuel leak could be in the tank or a line. Or the pump is junk

Sounds like you have a broken fuel return line. The high pressure line goes through the filter and to the injection system, and the unused fuel is returned through the pressure regulator back to the fuel tank.

Can try replacing fuel filter

If the vehicle is flooding then the pressure regulator is probably bad not registering enough fuel to the system and shutting off the pump in the tank.

If you take the fuel return line off and it starts, it should spray some fuel out of the fitting the line slips onto. If not, you are either pulling the vaccum line or the pressure regulator is bad, or you could have a fuel pump going bad. One way to check the regulator is to apply vacuum to the port on the regulator and turn the key to "run" not start. With vacuum applied, fuel should run out of the return line fitting. If not, bad regulator or weak pump, maybey even a clogged fuel filter. If so, vacuum leak or blocked hose. Let me know if this helps :)

I had a problem with a fuel return line that caused my 95 YJ to do the same thing. It was getting flooded after a few short miles, and would not start for a while. You can buy a fuel pressure gauge and check the fuel pressure, if the pressure is to high that might be your problem. I took my fuel return line off after checking the pressure and tried to blow thru the line with my mouth and could not. After dropping the fuel tank I discoverd that my skid plate was dented in, causing the bottom of my fuel cell to be pushed up and the end of the fuel return line (in side the tank) to be blocked. Good Luck, and if that ends up being the problem you may want to replace your spark plugs, they may have been fowled because of the excess fuel.

I doubt the regulator is bad, the fuel pressure regulator is after the injectors in the return stream to the tank, more likely it is the fuel pump.

Is the fuel pump actually coming on??? If it isn't, I would start by checking for a fuel pump relay.  This is usually located up in the engine compartment in a black box on the drivers side.  Relays are small black boxes approx 1"x1".  These have a tendency to go out just like fuses.  Also double check your fuses.  If you suspect a that a relay is bad, you can interchange them with other relays that look the exact same to see if they really are the problems.  These relays are very quick and easy to change and are very cheap.  They usually run no more than $10-15.
Any further questions, feel free to ask.