So what's likely to cause an inconsistent pressure behind the valve if the reg is functioning properly?
Creep, and its variance. Creep occurs over time until it hits its maximum, some guns are 1-2%, some 2-3%, others 5-6%...point is between shots, the longer you wait, the more variance / pressure difference your valve will have both holding it shut and ready to propel your next pellet forward.
So if you're hunting, and take 3 shots back to back, after the rifle has sat for awhile, and your true set point is 2000, but your regulator creeps to a maximum of 2100 @ 5% over a period of 1.5 hrs. Well your first shot will be 2100 provided you don't do any dry fires, shot 2 may be 2050, and shot 3 may be at 2000...and if you wait 30 minutes for your next shot, it may be 2030, where as a shot that you wait 60 minutes to take may be 2060....
That and temperature will be your largest factors in pressure variance. The amount of creep your regulator exhibits, depends on the RMS of the material in use, and the degree to which your seat and piston may be out of round, but that in itself is no certainty to eliminate all creep, as the slightest nick or imperfection in the knife edge of your piston, or piece of dirt/debris can cause creep considering the air molecules in your pcp are around .0001 microns big. There are 1000 microns per millimeter... so essentially to the order of a millionth of a millimeter if I do my half arsed math correctly...