All the fuel pump instructions say to mount below the tank - but there's not a reasonable way to do that since the tank is at the lowest point. I settled for putting the pump as low as I could and hoping for the best. I didn't really want a speed bump knocking the pump off.
It was able to suck even with dry tubes after I put 1 gallon in the new tank, so I wouldn't worry too much about it. If you want to be sure, you could try holding the pump in your hand and start it up high and move it down until it sucks to see how low it actually needs to go.
A couple other reasons I like the electric pump:
1. I can detach the line from the carb and put it in a fuel canister, and pump the tank nearly dry when I need to.
2. If the carb is dry from sitting around, I don't have to sit there cranking and cranking while the mechanical pump dredges up something from the tank. Just flip the prime switch.
A word to the wise: I also installed a fuel cutoff switch from summit. The idea is when the oil pressure goes away, the fuel pump is stopped. Just for fun, I also installed a green dash light that glows when there's power to the pump.
There are also crash sensors one can get that will shut off the fuel pump in the event of a crash, but I haven't installed one of those.