Sam,
Swap out the knocker (the other part) back to stock...leave in the NPAS valve and steel part #66.
1. make sure there aren't any burrs or catches on part 66...not to round off the edges or anything severe...but check to see it's not catching/digging into the hammer as it moves. It should also move completely smoothly up and down in it's slot.
2. Pull your bolt carrier out and put some thicker silicone oil (try either grenade oil or 60wt RC shock oil).
- put a generous dab on the 2 orings on the nozzle body
- put a little on the o-ring of the float valve..it must move back and forth freely.
(see edit)
- extend the shaft/rod and put some oil on the piston cup and on the spot where the rod goes into the piston head. Work the rod back and forth...it shouldn't bind/catch....it should be smooth.
- if it's still not moving smoothly...you might have to take the piston out of the bolt carrier and see if the end of the rod isn't too big for the black piston body. Lube there too.
- lube the top roller on the bolt carrier
- make sure you've got a bit of grease on your buffer spring and just a touch on the buffer where it'll rub the stock pipe...it should run in and out smoothly.
3. make sure the white spacer is all the way back (to the rear) on the piston body.
4. back the float valve almost all the way back (most FPS)...it'll shoot too hot but we're just testing now.
5. with an empty mag...
- hold down the knocker valve and put 2-3 drops of oil (same as above) right in the top seal of the mag. The knocker valve must move freely...so a little light lube there if you need it.
- at the bottom of the mag....put 2 drops on the fill valve...give it a quick shot of gas...put 2 more drops on the fill valve and then gas the mag up
....it'll be overlubed at this point...but ok for testing.
Rack the bolt...the bolt should be smooth and not stuck/sticky anywhere. Work it a bit to see that it's all free moving.
Fire (bbs or not) on semi...count 1 mississippi between shots for now. How many shots do you get off a full mag?
If it's working decently at this point...tune down the float valve to a sane velocity level....keep oiling the mags and test firing. If it's still consistent at this point...then start reducing the amount of oil in the mags. Pull the bolt now and then...it should have a nice even coating of lube pretty much everywhere. The lower internals should be lubed too.
If you get to the point where you think it's stable and the oil levels are just enough to keep it lubed...then you should be good to chrony. Remember to pass a AEG cleaning rod down the barrel to get extra oil out.
Other guys have noted that it often takes a fair bit of bolt racking to set the o-rings to the chamber so it doesn't hang up there.
******EDITS*******
- corrected masses of spelling mistakes...need more coffee

- * I also noticed the other day that the newest batch of RA tech springs were really stiff in comparison to the old ones
This increased resistance makes for the float valve slower/delayed in closing.
If you crap out on all of this, try swapping the stock float valve spring in to use with the RATech valve....you'll need to clip the little cross piece leg out of the spring...compare to the RAtech one and it'll be evident what to do.