This morning I went to Advance Motor Mechanics to discuss the installation of a second fuel pump in parallel, because of the differential fuel pressure drop that I've seen in the data logs.
They asked me if my Turbosmart FPR1200 is a 'V2' (version 2) unit, and I said no.
Then they mentioned that they've had the same problem on a number of cars with older Turbosmart FPRs, and they were always able to solve the problem by changing to a V2 unit. This must mean that the advertised 1:1 ratio (fuel pressure increase vs boost increase) wasn't entirely accurate with the older Turbosmart FPRs.
This could explain why my differential fuel pressure was dropping even though my calculations said that the fuel pump shouldn't be at its limit.
Therefore as a first step I'm going to swap out my FPR1200 for an FPR1200V2 and re-test the fuel pressure with data logging. If the fuel pressure behaves OK with the new FPR, then I probably won't need to install a second fuel pump!