I would add a full flow oil cooler with thermostat and run the GTE pump. The GTE pump doesn't flow so much that the oil is going to foam and both GE and GTE relief valves are setup for the same pressure. There's no way it's going to empty the pan... Both GE and GTE require very close to the same amount of oil but the GTE has a much longer circuit to feed (the difference is only 1/5qt dry and no difference for a regular oil change). If you're worried about oil level you can safely run up to 1qt over... I wouldn't run that much extra due to the resistance but an extra 1/4 or 1/2, sure.
I don't see a significant reason to run a GTE pump on a stock GE engine but if you run slack clearances, add to the circuit or run a thin oil it's not a bad idea and it's not going to hurt anything. I wouldn't increase the pressure, these engines like high and free flow and gain little from additional pressure.
I know you have to do it all on the cheap. If you can't buy an inexpensive B&M oil cooler and a thermostat then look at local salvage yards for a turbo FC to pull the cooler from... make sure it's the model with the integrated thermostat. Now all you need is a block adapter, filter head and hose. For endurance racing I wouldn't even consider this an optional upgrade.
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