@John Carroll I had a chance to run a couple more tests and finally found a few minutes to write the results down for you:
Constant dP, target pressure 100mbar - this was after a while of running so hopefully steady state rather than ramping up:
Modulation: 34%
Target Flow: 62
Actual Flow: 62
Actual Return: 46
Flow rate: 477 l/hour
Pump speed: 21%
Fixed pump stage 50%
Modulation: 32%
Target Flow: 62
Actual Flow: 62
Actual Return: 48
Flow rate: 505 l/hour
Pump speed: 50%
I have to admit I haven't had a time to fully digest your posts yet sorry