From that I gather the piston o-ring seal to the pump tube is intermittent. I've had that problem with dry or damaged o-rings, or a rough surface on the inside of the pump tube. I had one with rust on the inside that did that. Lots of oil and pumping smoothed it out. I wouldn't take 400 grit to the inside of the pump tube though.
Are you keeping the oil-wick wet with the supplied (airgunsmith) oil?
You are using the right piston o-ring and I assume that you're certain it is not damaged.
But the real test for a good piston / pump tube seal is that it should pull a vacuum on the intake with an audible hiss with the incoming air... as Back_Roads mentioned earlier. You may need a new pump tube.
I would not suspect the valve. If the exhaust valve doesn't seal, you would hear flatulence noises out of the barrel. If the check valve doesn't seal, the pump arm will fly back. If the valve body or tube o-ring doesn't seal you will feel air coming out of the tube (under the breech and above the grip frame).You completely lost me with this...
got some dieseling for the first 3 shots, and then things calmed down
But I hope you get it sorted...Wyo