Well guys thanks for the help, I tried a bunch of the stuff suggested above.
This is what the problem was... We all have seen the Aeromotive logo with the arrow/direction built into it, typically we ensure the arrows are lined up the filter-pump-filter and we are assured of the flow... Well I lined up the logos/arrows but as it turns out after aeromotive rebuilt my pump they reversed the outside shell... I never paid attention to the writing on the end that said INLET... I took my pump reversed it and bang! 40psi. I feel a little stupid...
Again thanks for the quick help.
For the record my set-up is a sump system, I do have the pre-micron filter and I think I will consider the post filter as well.