Final Report.
First of all, thanks guys, your posts were all thought provokers, and all pointed in the right direction.
Looks like the whole thing boiled down to priming. I did just about every check you guys suggested, including blowing the lines backwards (disconnected the hoses from the tank and routed them into a clear food container so I could see what came out; nothing but clean fuel). I dropped the tank, looked inside, pulled the screen, it was (mostly) clean as a whistle. Flushed the tank, touched up some of the rust hiding on the *top* of the tank, back in place.
I also plugged the feed line at the tank side and fired up the Mighty-Vac into the fuel hose going into the pump. Held vacuum very well, so no leaks. Now WTF?!?
All that was left was air in various places: the pump, the filter, the tank line. So I primed. Held the filter-to-pump line up and dripped fuel into it until the line filled, and stayed filled. (This took awhile; that pump can pack in more fuel than I expected, so much so that I started looking on the floor for "excess". Hopefully, it was sneaking out the return line and back to the tank.) Before I reconnected the pump, I poured fuel into the top banjo hole above the filter until it topped off. I expected to *not* be able to top it off, given the fuel would follow gravity back to the tank, but after awhile it did top off. Go figure.
Buttoned everything up, said a quick prayer to St. Jude, patron of lost causes, and turned the key. Immediate, laid back idle. Stayed that way for 15+ min. Now it's time to drive it around the block, then 2, then 4, etc, etc, to check the *other* stuff I did. So much for the scenic route to a vary basic problem I could have nipped in the bud.
So let that be a lesson to me; moral of the story, if one depends on suckage to get fuel through a 6+ foot soda straw, uphill, air is the enemy...