Again, thanks Vettenick and both rrubel and Eagle 85C4 for your input. In response...this fuel problem started about 15,000 miles ago. The first time was in the mountains. I limped into Denver and had fuel pump and filters changed. The 86 ran fine for about 10,000 miles more before losing pressure. This time had it towed to a good mechanic who rebuilt the regulator, changed filters and pump again. I'm not sure about the diaphram or gaskets used. Car ran great for another 4500-5000 miles. This last time when it quit, I bearly could get it off of the interstate. Car was towed to a good mechanic who has been trying to solve the problem. (I will give him your suggestions.)
I may sound a bit ignorant but I do know that the pressure off of the back of the tank right at the sender and pump is not holding. 20# max is all it can produce. This is after trying 3 different pumps...last one was a Delco. Wouldn't the fact that the pressure reading off of the tank would eliminate fuel rail, filters, injectors, regulator....everything ahead of the actual tank? That's the reason I had decided to order a new sender...thinking that perhaps one of the two wires in the sender was faulty. Anyway, will have my mechanic go through all new suggestions before changing the sender.
Thanks a lot for all of the suggestions. I realize that everyone of them has been a solution to somebody else's problem and they certainly all are valid and worthy of consideration. Bruce