Just quickly reviewed your post. I see that you consider the exit from the moderator to be the muzzle. I've done my own testing and have found that the exit from the moderator (your photo #1) gives ES of up to 25+ and exit from the actual muzzle of the rifle (your photo #3) drops the spread to about 2-5 depending on the tune. I wholeheartedly agree that placement of the FX Pocket Chronograph is key to it's accuracy and to the owner's happiness with it. That and using lithium batteries as FX recommends. Lithium batteries or an external power supply.