You know, if you look at a lot of the Factory stuff they will put it right back in at the Fuel Pump-I'm certain that is fine, but I will tell you my opinion as I am going through this same issue-
You haven't told us your combo (engine size, hp rating, fuel line sizes , Pump flow, etc.), so, I will tell you my story, and maybe it will help-
I am upgrading my system from a -6 (3/8") line to a -8 (1/2") line because of my combo (high horsepower big block with fuel injection requiring a return line)-I didn't have a return line before (I was going to run a Carb)-
My new return was designed (Rock Valley) to point straight down, right at the pickup tube-after looking at it (It sits in a well), I changed it so that it flows out at 90 degrees)-why? The Pump flows 130gph and I could see major amounts of sloshing/frothing/agitation at idle or low speeds with that idea-Pump cavatation is a bad thing-
If I had the chance on a new Tank (like you), I would put the return on top with a tube or diffuser pointed away from the pickup in the Tank, or, put the return as far away from the pickup as possible with a well for the Pickup (or Pump) to sit it to control the agitation-this is only my opinion, but I hope it helps-

imp: