Suspected this was a spring problem, so went to Bruce at Valley Trading for a spring.
He pulled out an assembled P14 firing pin from a draw, and I immediately noticed the difference in the cocking piece.
About 12mm of material had been milled away on mine, reducing the firing pin travel by that much on firing.
The replacement is on top in the below picture, the old one on the bottom.
According to Bruce, it was fashionable at one time to do this modification to get the bolt to close faster, but then it needed a much stronger firing pin spring that could do the same job over shorter travel.
