Perhaps a moderator will move this thread to the LSX + Carb Swaps sub-forum.
3-wire GAUGE, or 3-wire SENSOR?
Seems silly to disable GM's redundant fuel pump system. What are you doing with the extra wires?
I'd expect the sensor is set up to have fuel pump power IN, fuel pump power OUT, and a single wire for the gauge.
Is the sensor compatible with the gauge? I'd expect a 0--60 psi gauge. Perhaps the sensor is a 0--45 unit.
Are you connected to the proper terminal on the sensor? If you connected to the wrong terminal, the gauge would act very weird.