I would agree with 300lph, IF......there are no kinks in the return line. The Saginaw fitting between the engine and frame connection is only .098" in diameter. That is TINY (spelled with big letters-LOL)
A 340LPH requires a larger return. We run a stock feed line with all the Saginaw fittings removed, so it is a full 3/8" all the way. Stock Saginaw fittings neck down to .257" where the O-rings go.