I'm not an authority on this subject, and I'm sure multiple people in this thread have more experience on the subject than myself (MB/Bryan etc). However-- I just installed the same pump in my car about a week and a half ago.
I also have an ems, 550cc injectors, and FI @ around 10psi, with a stock regulator.
I didn't bypass the resistor, even after it was recommended by a few people... not because I didn't trust them, but no one really had a solid reason for doing it and I was curious to find out for myself. I haven't noticed any abnormal fuel pressure spikes or dips. I've played around with it since I put in the pump trying to get the fuel pressure to drop or the AFR's to go lean when in the 'low voltage' mode.. ie; boosting or accelerating under 4800rpm without full-throttle, but have yet to see anything abnormal.
I'm keeping an eye on it, and if i see it do anything weird, even once, I will bypass the resistor... but until then, I'm leaving it...
-mike