Hi Mark
This is the best explanation I could find .
This fuel by-pass valve on the injection pump outlet opens between 0.8 to 1.1 atu (about 11 to 16 psi).
The measuring point (for pressure) is by fitting a small gauge on the line just before the cold start valve.
The valve ensures the feed pressure is a constant 0.8 to 1.1 atu.
The BBB mentions another value with the measuring point the same as above and that is the final feed pressure.
That value is a minimum of 1.3 atmospheres (about 19 psi) when squeezing the fuel return line. Don’t recommend doing this for more than a couple of seconds ,just enough to get the reading as you are dead heading the pump .
A point to note is the early fuel bypass valves had a tiny hole in the middle of the disc allowing vapour to escape preventing warm start problems, the next generation valves had no tiny hole but needed a T piece fitting on the return line at the fuel pump.
Lastly, the measurements are performed with the engine stopped and a minimum voltage of 11 V at the terminals of the fuel feed pump.
Others hopefully ( Joe, Stick, Dan, Mbze )will jump in here if my explanation is wrong .
Regards Dave