It sounds like the fuel pump is running, and no computer trouble.
My guess would be the hose blew off at the pump to sender connection.
Did you clamp it with good clamps?
Some of the newer 3.8 like the 04 taurus and such , had a fuel pressure sensor on the fuel rail, and with that and the cam sensor and a fuel pump control module , it ramped the fuel pressure up or down according to engine demands.Ford thought it was better than a regulator.
I dont think yours is new enough to have that, but it cant hurt to look to be sure.
Given that you have a little fuel pressure,I would bet the hose popped off in the tank.