It would be cool to put it all together outside the tank. There is plenty of room under the tank and or in the air box with the stock airbox and air filter removed.
When I did mine, I asked at a couple of parts stores, if they knew of any special gas line that was made to stay submerged in gas. Only one suggested, and sold me, "a better grade" fuel line, than the standard type ??? The line on my 05 was also very hard and cracked, and could hardly blow through the filter, no idea how many miles since it was changed. New line, clamps, and cheap metal filter from Discount Auto. Works fine.
Did your replacement, 'toilet bowl thing' include the float, the arm and the gizmo at the end of the arm where the rod attaches to what appears to be an electrical switch of some sort?