The only way it could effect emmissions is if the return line is not adequate restricting the regulator from bleeding off the volume of fuel necessary to keep the pressure in the range your chip needs.
I had a kink in my return line on my Regal Limited therefore could not adjust the pressure under 45 psi. Had to replace a section of the return line to get the pressure where it should be.
Having the higher volume pump assures consistent pressure available, which makes the tuning much easier.