You could modify it to run at a lower pressure with a larger airflow by drilling out the holes in the vertical adapter/front block and drilling out the holes in the valve.
You can file down the valve pin to allow for a higher flow rate through the valve.
You can polish the bolt and striker to help decrease the friction.
You can cup the face of the striker to allow the air pressure to help recock the striker and bolt better.
These modifications may help with your cycling issues, but be wary that they may help too much and force you to invest into a regulator to keep the pressure down.
Here's a link for the list of Spyder Modifications