Thanks for the info. Still not 100% sure which is best. Got to look into it more. But one thing I did decide to do, was to put a 90 coming through the bulk head, aiming down, rather than shooting straight across. After seeing the video (thanks cydgdgdgege) and seeing how strong the oil streams out, I didn't want it shooting onto the crank; and tamago's idea about putting the 90 made a lot of sense to me too. But I'm not too sure yet if I do want to extend it into the oil or not; still researching...
This is what I got so far:
Like tamago suggested, I could put this fitting on so the oil will return below the oil line.
This is with the 3/8" fitting on the outside..