Hey guys, sorry for the delayed response.
I like how theman approached this tweak, and it certainly would be a more conventional approach. Also, the oil pressure numbers appear to be right on the mark.
I'm kind of fortunate that I have access to a full array of machining equipment (Mills, lathes, CNC equipment, etc), so the threaded plug arrangement would be my approach (match the D&T to the hole, then use a lathe to trim and recess the threaded plug to match spring OD), since the cotter pin can 'work' in the hole over time, and you'll end up with a small 'controlled' bleed somewhere down the road. Not a big deal.
The other reason I'd ream the bore is, as theman suggested, rotating the piston around to 'find' high spots means there's been some distortion within the hsg itself. You can keep rotating and sanding until you achieve smooth operation, but setting the pump up on the mill and reaming a couple thousands will accomplish the same thing - but guarantee straightness of the hsg bore.
Either are good solutions, but the reason I prefer the plug is to permit 'tuning' of the spring itself, without working the pin holes each time you change the spring out. Themans solution would work fine on my street driven vehicles providing the pin holes don't wallow and/or pin break (I'd have to rely on his experience with longevity of such mods), and the other is suggested for high rpm/race consideration (i.e. if you wanted to try near 0w/10, 0w oils or similar synthetics, to pull a few more horses out of it, you could use the bypass springs diameter, length, and rates to dial it in).
Good discussion guys and thanks for all the great ideas.
Southernman