What's wrong with the valve you have? There's not much to it. It is a variable pressure control valve. Are you sure you have the stroke adjusted right?
As a non-expert I believe its so worn that even the O-rings are not sealing it up. I replaced all the o-rings and nothing is leaking outside, it must be doing it inside.
Connected the gauge on the output port direct and slowly moving the peddle and watching the piston move in/out andd I cannot get more then about 125 psi. This tells me its leaking internally