dumpsterDiver
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There was a lot of manufacturing variation to start with, often above and below the 300-500 PSI spec. I was pretty young and gave up on J-valves before learning to rebuild valves or regulators. Guys in the Vintage Forum are more up on the nuts & bolts. Like you, my first guess would be the stainless spring is the major culprit.
I had them wear out. As I recall, the part that rotated was plastic and wedge shaped and would wear, not seal up effectively and eventually not even move on and off. It has been a while, but they were a pain in that the tank filler needed to remember to put the reserve in the down position to fill, or the tank didn't get filled.
Once we got pressure gauges, the reserve was stupid, so I taped it in the down position, but they also tended to leak.