The return line entry, isn't a centrifuge but, it does give wall area to dissipate the oil and let it flow back, into the reservoir, with less energy and air. Many tanks, also have a screen at that level to also help decrease aeration and to be a upper baffle. In the 60's - 70's, there were all kind of tank shapes, with the return just dumping into the top in many different ways, most all running w/o any problems.
Modern tanks are tall and narrow and don't need much baffling, because of that and since air is much lighter than oil, aerated oil, doesn't have much chance to get to the pickup. We are talking about a column of oil, 8" in diameter, 12 to 14" tall (10 to 12 qt).
All that beside the point for this. In a car, with a pan, you have lots of aerated oil, off the crank, landing on top of the oil, above the pump pickup.
This is a great project and can benefit everyone running a pan, if the cause can be found.
Something else that could benefit us, is the actual oil flow used in a FE at some pressure standard and .0015 and main and rod clearance, then .003 or even .004. It think it would show whether or not we need HV pumps.