A thoughtful post, Dgarretson.
Even so, I do not agree that you have demonstrated that a pump with a 1 psi output is necessary and sufficient for Terminator. First a technical quibble: as you note, P and V are inversely related, so that it makes good sense to speak of pressure at a specific load, to wit, the pressure at the volumetric load of the Terminator. I am not sure that your measurement technique accomplishes this, but have not thought about it much - is this a standard engineering technique?
Second, it seems to me that you have demonstrated that Terminator works at 1 psi (your technique), but not that 1 psi is optimal. I have measured the pressure in the line, after regulation, and this is clearly different - the saddle floats at a much lower pressure, and so my measurements are approximately 10% of yours.
My conclusions are the same as yours: just as pure DC improves amplification, pure air (pressure) improves flotation. The question arising is, what is the cost/benefit curve? Or, how heroical should we get? Since I didn't know the answer, I bought a more powerful pump so that I could waste energy in smoothing, and the results are, to me, well worth it.