Yeah, but the valve I just demonstrated will be the primary valve, not a pilot valve. It will work in a vaguely similar fashion to the Airforce Talon or Condor:
http://www.airforceairguns.com/index.html On the other hand, that is a nice homemade pilot.
This will allow me to get many shots without pumping inbetween. The airgun itself will have an onboard air tank made of 3/4" type L copper pipe. That will then connect via hose to one of my old CO2 cylinders that are out of date, which will increase my shot capacity. The valve is rated at 200 psi, I've taken it to 250 psi with no problems.
The ammo I plan to use will be darts and possibly neck it down to shoot 3/8" steel ball bearings or 0000 buckshot.
I'm not going to be able to get my other airgun done before deer season, so I've got another year to get that one finished. So I'm building this one in the meantime to give me a near silent one for around the home pest control. My wife also wants a airgun that she doesnt have to pump between shots, so this should fill the bill nicely.