So going from what ive read so far in this thread, the HW pcp is not regged because it does not have a proper reg, which is seen as a self contained unit ie: like the Steyr reg.
Even in this case the air in the HW is still being regulated by the 'non-self contained unit', hence its a regulated rifle (as cam has pointed out it works in the same way as the steyr reg). the fact the parts that regulate the air are not in a self contained unit has no baring on whether the rifle is regulated.
As far as calling it a metering system of sorts, all reg's are a metering system of sort's.
Last edited by LANKY MK; 13th January 2012 at 02:02 PM.