But the two scenarios are different, right?
They are different until you have that 'runaway pump' or other problem and you shut the valve. With the proposed idea the valve must go on the pressure side of the pump which is usually just before the engine as shown in Mike's (lovely) install.
Then there's no 'relief', the pump would be pushing against the second tank & the UAT if fitted. The first (main?) tank is, of course, vented. - John.