So with the APG-2 I've sort of taken a step backwards. The main valve is a 3/4" sprinkler valve (the APG-1's pilot valve...) with 2" by 18" barrel and chamber. Sure performance isn't great with a valve so much smaller than the barrel, but tests from a few minutes ago indicate that it is more than sufficient for it's intended purpose, so I'm happy with it.

Yes that is DWV you see, but all of it is purely cosmetic. Any parts containing compressed air are NSF-pw. The bell reducers just hide the sprinkler and quick disconnect.
Updates forthcoming with the addition of paint, grips, and other accessories.
-UPDATE-
I actually painted it a few weeks ago, just never got around to taking pics. Anyway, here's the APG-2 with Olive Drab and Flat Black paint.
The whole launcher

The valve and shroud

The fill valve (female QD)

And the view down the sights (at the floor)

Well I might eventually add a more comfortable pistol grip than the blowgun, but that's sort of doubtful, as the APG-3 is already in the planning stages.
-UPDATE AGAIN-
Ok, everyone;s comments inspired me to finally finish this thing. I added a sling made from a couple of belts, a pistol grip made from a chunk of blue foam covered in bondo, and stenciled "APG-2" on both sides of the chamber.
The finished launcher

Closeup of the chamber stencil
