Hi Khornet,
I'm in the middle of tuning for slugs so FWIW, I can share my notes...
Same rig as you (yup, it's black

) except that I am currently using the pellet barrel and will change to the "slug A" barrel after a bit of experimenting.
I've tuned to the 25 grain JSB Monster Redesign pellets and will be switching to the JSB KnockOuts (they are the same weight). I'm hoping to find a tune that will let me switch between pellets and slugs.
Agreed, reg then hammer spring , then valve timing. Note that the reg pressure gages are often inaccurate so bar numbers are for reference only. Likewise, the numbers on the HS dial are relative to how the Allen screw on YOUR gun is set (and the strength of your spring) and the lines on the valve are vague at best. I take measurements and go by those dimensions.
Was tuned to shoot JSB 18.13 grain pellets @ 939 fps (reg 75 bar, HS .742"; Valve .323") ES under 7 & SD under 3 (typically).
I (think

) I'm looking for 930 to 950 fps with slugs. I started tuning for JSB Monster Redesign pellets, I increased my reg pressure in 10 bar increments until I reached my starting velocity of 970 fps at MAX HS (.575") . Then tested (recording FPS, ES & SD) at MIN thru to MAX looking for stability (low SD) and a velocity of 955-960 fps. Found that with a HS setting of 5 (.592") then I tuned the valve down to 3 1/8 lines (.337") to my current tune of 947 fps. Typical ES and SD over 25 shot strings is around 7 and 2.3 respectively. Groups are good with pellets and now that I have the weight (reasonably) dialed in I'm ready to start looking at slugs.
Just as a thought, I have often wondered if the sudden changes in slug velocity (and accuracy) could be attributed to them not feeding consistently - that they are loaded canted and not seated to a consistent depth. After all, pellets are supported/guided at the front and back. Slugs, by their shape are only aligned by the back - that might be a problem, especially on the shorter light weight ones. The changing tension in the magazine spring could affect feeding as well. Just saying.
Done rambling. Hope this helps.
Hank