So, maybe not the best fuel filtering ever but here's where ended up - scored a Racor housing sans functioning primer pump from Mr. Dumpster. This is getting a 10 micron filter ahead of my existing Racor housing with a 2 micron filter ahead of the lift
pump. This set up at least gives me one more chance to catch water
before it gets to the engine than I had previously.
I currently have a good source for clean fuel free of rusty chunks but will plan using a Baja-type funnel filter when the source is suspect and skipping the 30 micron filter part of the multi stage set up.
While I have a forty gallon tank, I am with stevensuf on not topping off the tank and only keeping as much fuel in the tank as I will be using in the near future. I think it should be pointed out that less fuel in the tank means less fuel load on the filters and the more effective they will be.
A valve on the bottom of the tank to drain off water might be nice but my tank installation
doesn't allow for it.
A friend pointed out that you could always swap the fuel line from the pump to the engine with the return line to the tank and achieve effective fuel polishing without investing in a separate fuel polishing system.
Of course this means bleeding the lines anytime you did this but hey, practice makes perfect right? Alternately I suppose you could "T" and valve the lines and get the same result.