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I did this mod in 2008,and have done it quite a few times since.a couple of things though.You need to flush out the filter body extremely well or the slightest bit
of plastic swarf can get under the seat of the pressure regulator and cause it to leak and not seal properly and your fuel pressure control wont be very good,upsetting the fuelling of the bike.Secondly I drilled the filterhole where the pump outlet pushes into the filter as that is still a point of restriction.I use a sintered metal inline filter which is quite short and fit the fuel rail t in between cylinders 2 and 3 for a better arc for the fuel hose with the tees outlet facing the right hand side of the bike.Finally a cable tie
around the filter and pressure regulator is cheap insurance for the reg not blowing off.Measured at 43psi,i went from 1.1L/min to 1.6L/min fuel flow rate doing this mod which is about 70hp more fuel flow,1.1L/min signs off around 185hp at the tyre on a tight dyno.