see the diagram on this page for fuel system setup:
http://www.turbophile.com/our_cars/char ... specs.html
If you have a 3/8 (10mm) feed line personally i would do a 3/8 return to keep sizing of hose/fittings simple but a 5/16 or 8mm return will still be heaps for stock fj.
The two outlets are feed and return. Mine are bent 90 degrees though so the hose points more toward the hole in the floor.
Bosch 070 is used by Rover 3.5L V8's with over 140kw's amongst others so should be fine for you for a while. They flow 130litres/hr @ 3bar, max power consumption should be 6.5amps.
The threaded hole is so you can drain the tank fully without removing it from the car as it is the lowest point.
Nick.