From looking at the reviews, the reg is set somewhere between 1400 and 1500 PSI. It's sufficient to drive the 14.3 pellets at over 800 fps, but with a setting that low, more power just isn't possible. Crosman states that for F&T, it's a moderate power level, and that it is NOT adjustable.
If you want more power, pick up an unregulated Marauder and install an after market like the Huma or the Audrius off eBay. (I am tuning an Audrius on my Marauder now). The Audrius comes set at 2000 to 2200 PSI, so much more power is available to work with. Both Huma and Audrius are also adjustable, so if you want to set at 1800 psi, and adjust from there, you can do it.
As for a LW barrel, check out the new Crosman barrels. They are excellent. Not sure what accuracy you want, but my 5 year old Gen2 can do a 1.5 inch group at 75 yards, so plenty accurate for light hunting. New barrels are supposedly much better. It really is a good little gun.