We had a prv that continually dripped, fortunately it was piped to a skin fitting. No amount of twiddling the red knob fixed it. Replaced with new, the old one did have a scoured brass seat. The drip though was then replaced by a gush every time a tap was opened. I thought I was in for a new pump especially as when I was in a chandlers some one was buying a new flo jet pump because his new shur flo was exhibiting exactly the same symptoms. Fortunately an ABC mechanic showed me the unmarked and undocumented pressure adjustment screw on the end of the pump. Turn it one way the gush was continuous, the other, the bursts disappeared and the new prv was tight. Every thing was still working four years later.
Lessons:
PRVs have a life.
The release pressure of PRVs is fixed, but is not precisely it's rated release pressure,, our new one was softer then the original. Once installed though it maintained it's set pressure.
The pump may need it's operating pressure readjusting to match the new prv. Once you have found the adjusting screw under the pump end cap it is not difficult.
This is a lot cheaper then buying a new pump, and hoping the new pump is adjusted to match the prv pressure.
Piping the PRV to a skin fitting is desirable because it is visable, when it showed signs of a runny nose time to tweak it's red knob.