You drain the fuel in the rail off using the schader valve (I used a rag to suck up the excess). Make sure the keys are out of the ignition so the fuel pump doesn't keep the fuel flowing. No smoking!
Bassin247, very informative. I placed an order based on your "parts list" I opted for the Kevlar tubing rather than the stainless steel. Once I got my parts I realized I couldn't attach the sender to the tubing ! I needed a female-female coupler in 1/8" NPT. After looking at your pictures again, it looks like the stainless steel hose comes with various fittings and such, Is that how you got yours? I am lucky the local auto parts store carries a nice selection of specialty fittings and adapters.
P.S. I also went with the fuel restricter, Part # 3277, to eliminate spikes and fluctuations, I haven' t got it all back together, but do you think this restricter is needed or beneficial?