It's amost impossible to get an 80 down to 7 Fp unless there is something seriously wrong... any more than about 1/2" of preload and it'll be way over.
Check the transfer port - what size is it ? Clear ?
How tight/loose is the piston seal in the cylinder ?
Has the piston seal any nicks / splits ?
Is the breech seal leaking ?
What is the size of the spring, in terms of the wire thickness / length / number of coils ?
Also consider swapping to the new style "in the groove" cocking shoe - if you do fit a piston sleave (which you should; ally, steel or plastic), the new shoe will stop it being gouged up, and make cocking smoother.
Finally, as above, once it's sorted, a short stroke nose will make it much nicer to shoot at 12 FP
Always looking for any cheap, interesting, knackered "project" guns. Thanks, JB.