I found some more old notes:
With early "large" pump, there is no bypass hose from the pump to the return line, but there is a hole in the injection pump outlet valve (not in the fuel dampener).
When the "small" fuel pumps were first installed, they have the bypass fitting but it was not used, it is blocked with a screw and these also have the hole in the injection pump outlet valve (so the arrangement just like the large pumps). Note that if a small pump is used to replace an original large pump, the bypass hose does not need to be connected. (And as noted, the screw in the bypass fitting is a handy way to bleed air out of the pump if it's airlocked).
Later, around the beginning of 1970 (or thereabouts???) the bypass hose was installed, connecting the small pump bypass fitting to the fuel return line. At the same time, the hole in the injection pump outlet valve was eliminated.
This latest version uses the by-pass fitting with "y" connection at the fuel tank, after the electric fuel pump, which allows some fuel to return directly back to the fuel return line . This system uses the by-pass fitting with no orifice. If the car has no "y" and no by-pass hose at the tank, the injection pump should have the pressure fitting with the small orifice.
The situation you don't want is a fuel pump with no bypass hose fitted together with an injection pump outlet valve with no hole, and the other is the smaller pump with the by pass hose connected with the IP valve with the hole ..
This is where you would have two loops , which will result in lower fuel pump capacity to the IP at higher rpm..
Pawel, I don't know if the bolded info is correct, but it goes to your question. Sorry for any confusion. Some fuel system experts need to chime in.