Ford Fuel System :: Location Of Check Valve That Maintains Fuel Pressure On The System?

I have a '99 E-350 6.8L. Where is the check valve that maintains fuel pressure on the system?

I have been experiencing a starting issue when the engine is hot. Cold starts are usually fine. I've replaced the in-tank fuel pump (pump only, not the assembly) to no avail. I was out of town and didn't have access to a fuel pressure gauge when the problem started so I couldn't say what I had prior to replacing the pump. But now, with a new pump, when I check pressure, I get about 40 psi when I first cycle the key on, but it drops right back to zero as soon as the pump shuts off. If I cycle the key on a few times, sometimes I can get it to hold pressure at about 32 psi, and it starts fine. When I shut if off, it goes back to zero psi, sometimes gradually, like a bleed down, and sometimes immediately.

My conclusion from this was that the check valve was bad. I was told it was part of the in tank fuel pump assembly. Since I didn't replace the entire assembly, this made sense. So I just dropped the tank back down, but I don't see anything as part of the pump assembly that serves as a check valve. There is a rubber nipple on the end of the return line, but I don't see how that can hold any significant pressure.

So, before I go out and spend another couple hundred bucks on the complete fuel pump assembly, which apparently can't be purchased without the actual pump, I thought I'd ask. Where is the check valve that holds the pressure in the fuel system?

BTW, I also have replaced the fuel rail pressure regulator, but it made no difference (I went there first since that was much easier than dropping the fuel tank a second time).