Remove the EGR completely. You can have your up-pipe welded shut fairly cheap or do it your self if you can weld stainless. Make a plate to bolt onto the the back of the egr motor to seal it up. Re-route your PCV to the atmosphere. And since you will have all that gone you can clean up everything in the intake tract that got all gummed from it. I would also pull your intercooler out and clean all the oily residue out of it, and the boost tubes.
This may not gain you any HP, but it certainly wont hurt, and its just a good idea to do while your in there.
Don't mod your regulator unless you willing to pay for custom tuning, buy efi live, or put up with a possible "lopey" idle.