1. Take the gun apart to the point that you can remove the bolt and bolt sled.
2. Using a 1/2" flat blade wood-boring drill bit in a drillpress of power drill, drill the backplate out from behind the restrictor spring.
Until the parts will poop out the back of the bolt. It may take a few up-and-down passes using the 1/2" flat blade bit before the lip is removed to the point that all of the pieces will come out.
3. You now have the restrictor removed. If you want to remove the peg you can again use the flat blade drill bit to cut it out from the back of the bolt. Then using a really long screwdriver, or whatever is long and skinny enough to fit, to push it out the back of the bolt.
4. Use some aluminum tape or your favorite decorative sticker to cover up the hole in the side of the barrel portion of the bolt.
Anything stickier than electrical tape will work fine.
5. Before putting the gun back together I would recommend removing the jam door because doing so makes getting the gun back in one piece MUCH easier.
6. Now when your gun is unloaded you can see from the muzzle all the way to the back of the plunger chamber.
You should get ATLEAST 15 more feet using the stock darts. Longer darts work best because they get forced further back into the usable barrel portion of the bolt.
If you want to be able to ram-rod stefans in from the muzzle you will have to glue a 1/2" OD tube into the bolt piece somewhere to prevent them from getting stuck in the plunger chamber. I'll update this post of what length to glue in from the back sometime soon
And that's how I did it. I'm contemplating other possible mods (like banding, adding a second spring, making a new bolt from scratch), but I don't know when I'll get around to them.