2000 mustang 3.8l

I have been having hard starts after my car sits overnight or after a few hours so i hooked a fuel pressure tester up to the shradder valve on the manifold and it read about 30-32 psi at idle and under rev at about 3k rpms it didnt really move at all. after turning off the car i left the guage hooked up to see how fast the pressure drained and it drained 1psi every 10 minutes or so and after an hour and a half i was down to 10psi. Do you guys think i need a new regulator or a new fuel pump?

 

i should say that the repair manual says 28-54 for psi