Tuning del

The downward trend, to the extent there is one, is probably due to the input regulation characteristics. That is, the output pressure is slightly higher when the reservior is at high pressure. That's just an educated guess. I couldn't find a good picture of the regulator internals...if it has a large orifice, that would be a clue.

Whatever it is, it can be thought of as an academic curiosity more so than a problem. You have a 1.5% ES for the entire string of 35 shots before it tails off. To have adjusted nothing and using unsorted pellets, that is an exceedingly good result. It is so good in fact that when you decide to do those things, it will be hard to improve upon it.
 
No reg fitted to an airgun is capable of giving the same regulated pressure regardless of fill pressure, as fill pressure drops, so to does the reg pressure, only slightly but it does.

Also the speed at which the bottle “tops up” the reg also changes wilth stored pressure.

if your gun is running close or at the maximum the reg pressure will allow then each shot will get less pressure and less top up so velocity will drop.



Knock your maximum velocity down to where your minimum currently is and the downwards power slope will not be as much.



Bb
 
Let me answer with a post by Bob Sterne: https://airgunguild.com/ask-bob/tuning-a-regulated-pcp/

TL; DR

You might be tuned at the plateau, considering lowering the tension of the hammer spring until the gun is shooting at around 970fps given the numbers you gave us originally, and see if the slope improve:

The relevant part on the blog is this one:

First of all you will notice that when the gun is tuned on the "plateau", which it likely would be with the original, unregulated, setup, there is a slight slope to the velocity as the tank pressure drops due to the output pressure of the regulator creeping.... This is common in most regulators, more severe in some designs than others, but is usually present, and the output may be 4-8% higher when the tank is full than when it is at the setpoint pressure.... Since the gun was tuned to peak at 2200-2400 psi, it is well down on the downslope of it's unregulated bell-curve, so small drops in pressure will (usually) cause the velocity to drop slightly.... Then when the tank pressure reaches the setpoint (in this case 1500 psi) the velocity starts to drop rapidly with decreasing tank pressure.... Remember, that since the efficiency is also low when the regulated gun is working up on the plateau, the shot count will suffer.... If the hammer strike is very high for the pressure, the chance of air-wasting hammer bounce is increased, and the gun becomes a real air-hog....
 
I just reread orion's post and he did say to use the hammer adjustment to lower the FPS. Its easy to miss stuff when you are a greenhorn at it.



Give it a try, if it doesn't work you can always revert and put it where you like it! I think what's really important is that you have a setting where the gun is accurate and predictable, a nice flat curve is awesome but if you are getting accuracy I think that's what matter. For me I like accuracy and efficiency over power, because my style of hunting, I need to hit them in a specific point and I need a lot of shots so I don't have to go back and forth to the car filling the gun, I walk a lot on that canal.

Give it a try and I think that's the only way to learn for sure. The post from Bob is really well written, once you start reading you can't stop!