I just had to replace the fuel lines on the olds. The lines were dry rotted (only 2 years old) must have been the wrong type of hose. Same symptoms because the pump was sucking air and cavitating it would fall flat at the top end. Be sure and use the a1 marine fuel line if you plan to replace the hose.
http://www.hotboatpics.com/pics/data...96442m-med.jpg