Update: The regulator now performs correctly after replacing the seat. I also installed the castle spacer per the service bulletin. Thanks for your help.
I removed one of two shims and lightly smoothed the castle side of the seat assembly. It was possible to set ~135 PSI IP but the adjustment screw is almost all of the way in.
I just rebuilt my Calypso IV first stage regulator. The IP measured ~170 PSI prior to and after my rebuild and it is not responsive to adjustment. I smoothed some some light indications going around the piston but this did not influence the issue. I did purchase another Calypso IV from ebay...
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