Quote:
Originally Posted by bradone1
I heave heard that sediment can possibly accumulate at the bottom of the tank and there is the best chance of sucking it up if you run very low on fuel, possibly clogging up the filter.
Another theory is over taxing the fuel pump when its trying to suck up the bitter ends, not sure about this one though
May all be myths started by your nearest gas station 
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I've heard the sediment theory but I'm not sure how you'd be more likely to suck up sediment when the tank is close to empty than when it's full, unless the suction hose just floats around in the tank? I don't know a lot about fuel system design.
But OP, as has already been mentioned, in our cars the fuel pumps sit inside the tank itself, and they rely on being submerged in fuel in order to stay cool. So if you were driving the car hard in hot weather on a low tank, yes it could overheat.