It's possible that you have a bad pump, but an inline gage while you're driving would definitely tell you if that's the problem.
I've experienced brand new pumps that would put out beautiful pressure when first fired up, but shut it off and restart and the pressure then drops, fluctuates, and pulsates more than that first time.
It also drops the hotter the engine gets or the more you drive.
I finally got sick of trying to "adjust" for that and went back to an electric pump with a good regulator.
However even with the electric pump and a good regulator, i still experience a change in pressure, it's just not as pronounced as with the mechanical pump.
I bought an Aeromotive regulator made in America that cost me 220 bucks over 4 months ago or more now.
But it's definitely worth looking at your pressure during the issue. Anything else is just guessing.