I think you answered your own question. If it's the fuel level (meter) assembly in the tank, two years isn't that bad considering the price you paid for the Spectre unit. Yes, it's a Chinese knockoff but for $39.00 it didn't break the bank at least. Todays fuel shortens the component life incrementally. Not really sure what they make gas out of any more? The part that sucks is pulling the tank down again to replace the meter.
The most expensive Dorman unit on Rock Auto was $49.00. There's two different units, one with two outlets (Federal emissions) and one with three outlets (California emissions). Apparently they don't have an AC Delco unit in stock for the 87 Monte SS, that's what I searched, don't even know if that's the car you have. There's no fuel return on a mechanical fuel pump car. One outlet for the feed and the other for the Evap canister vent.
In either case, you need a vent line and should also have a vented cap. You could use a PCV vent or some other type of vent if you don't have the Evap any longer. You could also plum the vent hose into the base of the carburetor and burn up the vent gases, up to you.