2.3 mm should be plenty of travel for the valve stem.... If you are using that much valve travel, your gun will be VERY inefficient.... Typical PCPs, properly tuned have a valve lift of only about 1/4 of the throat diameter or less.... Anything approaching 1/2 the throat diameter and you are shooting an air hog....Bob
Roughly speaking, with everything else remaining the same, the maximum FPE is proportional to the transfer port (smallest port) diameter.... Note I said MAXIMUM, which means a shot where the valve is open until the pellet exits the muzzle.... If the shot is limited by valve dwell, that no longer applies....The efficiency at constant FPE and pressure will favour the larger transfer port, because that allows you to use less valve dwell.... You are flowing more air in a shorter time.... If on the other hand you are comparing the efficiency at maximum power (dwell long enough that pellet exits the muzzle), you will likely find the opposite, and the efficiency will increase as the power decreases with smaller ports....The valve stem only needs to protrude from the back of the valve about 1/2 the valve throat diameter, because in proper tunes you will only need about half that in valve lift.... However, if you are trying for maximum power for bragging rights, you may want to allow a bit more than that, so that the hammer never hits the back of the valve.... About 3/4 of the throat diameter is plenty.... Just remember you won't actually use that much for normal tunes, because if you do the efficiency will be terrible, and the gun will be an air hog.... Bob