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What sort of sag does that give you? I'd be surprised that you didn't get full travel on a trail like insufficient funds
On 'old fashioned' forks, I'd suspect too much, or too heavy an oil in there, but without knowing the ins & outs of your damper, I'm unsure
If you've never spent time setting it up before, I'd recommend first removing the volume spacers ( even if you eventually use them ), getting the correct static sag, putting the compression and rebound settings somewhere in the middle, and then do repeated runs of a trail where you know you should bottom the forks out at least once.
It's a faff, but you only have to do it the once on that fork, and you won't have to be second guessing
You could of course borrow a shockwizz, if you like graphs, but you'd still need to go through a similar testing procedure
Or just buy another Pike fork ;-)
Ok, and when you say 'lowest recommended air pressure' do you mean for your weight, as I can only see a max pressure for the fork itself?