the edelbrock 1406 doesn't like a lot of fuel pressure, max recommended at idle is 6psi, suggested 5.5 at idle, and should drop down to at lowest 2psi at full throttle. I have a see-thru glass filter, with a new fuel pump, it stays full all the time. When i had an old pump that wasn't working great, it would fill and drain, fill and drain like you're describing at idle, and the fuel pressure would bounce from 1-5psi