I am doing a project now that the owner wants one of those 'safety circuits' for the fuel pump. I am opposed to it because it just adds to the complexity of the wireing and provides no substantive protection unless it is dangerous to begin with.
For people that wire the fuel pump to the ignition switch then that safety device could have merit. The safest way is to have a dedicated toggle switch wired thru a relay to feed the pump. You don't even turn the pump 'on' until after the engine is fired and running. The driver has control of the fuel pump, his judgement is priority.
The advertised feature about shutting fuel off below 7psi oil pressure, an idiot light will serve you much better. In the event that you loose oil pressure and the fuel pump turns itself 'off' the carb has enough fuel to travel a considerable distance - the only protection that you have added is for the fuel pump itself. An 'idiot' light will get your attention so's you can get off the throttle and the highway.
When doing electrical, the simplist is always the best. I have done tons of wireing from model 'a' to hightech gorgonzo automatia systems and there is one thing i will pass on: when wireing the complexity goes geometrically. In this case, a simple switch/relay is being replaced with an automatic system taht the owner will want an override switch so's he can turn the pump on manually, right?, so the complexity went from twice to 4times.