If you do use the vapor as a return, the tank will still need a way to vent pressure changes in the tank and allow air in to replace the fuel used
I installed another dedicated return fitting in my set up, and ran soft lines to just past the pump and at the return fitting, as well as the vent line for about a foot or so.
Engine has soft fuel lines as well. In between is metal pipe.
To prevent a vacuum from occurring in the gas tank because it's a closed system now I made a small vent hole in my gas cap. This seems to have worked in my system.
John, I am curious about the vent hole in the cap. Where in the cap did your drill? I am considering my options for fuel pump so the ability to use the charcoal line as return is appealing. I am considering the BobbMc PowerSurge pump, so the vent line won't be a "full" return line, just excess gas, I guess.
Also, you said you drilled the vent orifice on top of the tank. Without drilling, would the cap allow gas to flow back into the tank, or is it a one way system?
Another possibility is to add a second tube to the sending unit to use as a return line, but that implies running a whole new hose from the engine bay all the way back to the tank.