I my opinion, a check valve is not a pressure regulator, it's just a backflow preventer.
It keeps the fuel from the tank from flooding the engine. This was also accomplished by the "pressure" dome on some ancient hard tanks. The dome was a tiny bowl-shaped chamber soldered to the top of the tank with a tiny hole accessing the fuel tank. This created an air gap to keep tank fuel from getting into the engine.
In combat, we simply hand-pinched the pressure line and started the engine on a prime.
I can see why a check valve would be handy on a racer with a fuel shutoff, seeing that the trapped pressure would pump fuel into the engine via the pressure line.