I think the pump has been in 3 different locations in this series of bikes. Yours (not really sure where that is), mine (in front of the engine), and the latest (inside the tank).
My bike has had no vapor lock problems although I did have a tank suck issue once. My Lemans has the oil cooler mounted high up in front of the fuel pump with some sort of heat shield wrapping the rear 2/3 of the pump housing. The fuel line is resting on the left head and the fairing blocks most of the cooling air the hose might get if it were an unfaired model.
IMHO mounting your pump high under the gas tank would do no good. I do not see how any cooling air would get to that area when the bike is stopped and the heat from the engine would heat soak the system pretty quickly.