I've never converted a vehicle to a returnless setup so I can't give you much assistance. If you're familiar with the headaches associated with the conversion and have a means of controlling the in-tank regulator then go for it... and take notes, I'll be wanting copies.
EDIT: I've got to admit that my first assumption was that you were going to be doing this for all the wrong reasons and going to do it half-assed (ie: no in-tank regulator and no controller) as I've seen done elsewhere online... Do it right and yeah, it'll reduce clutter AND it'll reduce evaporative emissions... The hardest part is going to be controlling the regulator if you don't use a aftermarket EMS which specifically supports it.
I wouldn't mind doing this myself.... I wonder if I can talk Bob into adding the control support to the MAFT Pro.... hmmmm...