Ruger Air magnum only shoots 550 fps?

Holy cow don't shoot it anymore!
That gun is the same thing as a XS B28.
It should be shooting almost double that speed and definitely sounds like a broken spring...
I've rebuilt a few of those and Mike Melick at Flying Dragon air rifles has springs for cheap. Also use the Diana Apex large piston seal from ARH for the best performance out of that gun.
The last one i built was .25 cal and was making 29fpe with JSB 25 grains. 

James from Michigan,