I had a bit more of a tinker this arvo, not a tank problem, it completely failed in the driveway and wouldn't start even with the tank open. i think its a pump related problem, but another interesting/annoying development that i will have to look into is the 3 yellow leads going to the reg are getting very hot and the old tape that was wrapped around the terminals had burnt and become brittle the stator seems to be putting out equal voltage on all terminals and its still charging the battery at the correct volts but some of the pins in the plug to the reg/rec have been burnt and the plastic around melted., would a reg problem be causing this excessive heat?
Here's what keeps bugging me, you have an electric fuel pump? I didn't think a 95 used an electric fuel pump, my 96 doesn't. Or did I read that wrong in your first post?
Excessive current or excessive resistance both can melt wiring, it's your job to determine which is happening. If I knew exactly which pins were melted I could give you a hypothesis. The worst thing one can do is start swapping parts out until something is fixed, it's an expensive repair method and can lead to you replacing parts more than once.
Reminds me of replacing an old style Ford alternator with a separate voltage regulator. If the field circuit is shorted on one it can and probably will take the other out, so you can swap a bad alternator out with a good one and as soon as you apply voltage the bad regulator would take out the alternator or vice-versa. Both had to be replaced at the same time, Ford cured that problem by combining the two, but it was a real PIA if you were new and didn't know better, or just liked to swap parts out without testing.
You need to get a wiring diagram and a digital multimeter with a 10 mega ohm impedance, both investments that will pay dividends in the long run.