If I pulled the Fuel Pressure Regulator hose off and there was no gas coming out of the line at all, could it still be bad or going bad?

That's a good question, and one that I would like to know the answer to as well. Based on some previous posts, I get the impression that a number of chevy truck owners have had FPR problems when no check engine light came on and no codes were present.

If your talking about the vacuum line to the regulator there should not be any gasoline --- if there is, you have a problem.