98 s-10 hard to start and sluggish

i have a 98 s-10 4x4 with the 4.3 throtle body vortec. truck just it 200k and was runnin perfect untill about 3 weeks ago. the check engine
light came on. the truck takes about 4-5 secconds of cranking beofre it starts and seems to be very sluggish at times when accelerating. Ive replaced the plugs, wires, fuel filters, and the pump was replaced about 15k miles ago. ive been told that my fuel pressure regulator (within the intake) is bad. is there any truth to this????
oh, i hooked up a code reader and got fuel pressure low voltage. any suggestions would be awsome.
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