CheMatt, Your pressure control valves don't work exactly like that. It is important that you said PCV, not a PI connected to a PID controller, connected to compressor speed govenor. Step away from the process engineer and view from the mechanical engineer's perspective. For example, turning the dial on your discharge pressure control valve would not change the compressor's discharge pressure. It didn't change the cylinder's clearance and it did not change the driver's speed, nor the driver's power capacity. So, it did not change the compressor's volume-based compression ratio. The compressor takes at what is then 70 psig and compresses to (I calculate from performance figures at 120 psig suction, when the compression ratio was 515/135 = 3.81 and I keep that constant) 70 * 3.81 = 267 psig Neither does the discharge pressure control valve change the power capacity of the driver. The discharge pressure control valve can only regulate the pressure in the discharge pipe, if the pipe pressure is on the correct side of the valve's control set point. If the discharge pressure is on the opposite side of the set point, the valve is either full open or partially (maybe fully) closed, or v/v.
If the compressor's discharge piping's pressure was <= 267 psig, the compressor could discharge into the pipe and the discharge pipe's pressure would tend to increase, if evacuation of that pipe continued normally (ie. there were no control valves trying to regulate it to some other pressure). If there was a valve trying to regulate the discharge piping's pressure to a lower value, the discharge pressure upstream of that valve would increase.
If the discharge piping's pressure was > 267 psig, say 515 psig (assume it did remain constant), the compressor would discharge nothing, and actually the pipe would supply gas to the cylinder through the compressor's discharge valve and "top off" the cylinder in an attempt to reverse flow. The compressor discharge valve closes, now containing 515 psig. Then the cylinder would continue its cycle to the "draw inlet supply" position. At that position, the pressure in the cylinder would be 315/3.81 = 120 psig. 120 psig is > 70 psig in the suction line, so the cylinder gas is expelled into the suction. REVERSE FLOW.
So what your control valves do is attempt to regulate the pressure already in the piping, not what's going on in the compressor. The suction pressure control valve tries to regulate suction pressure, and it can, provided that the suction pressure is on the correct side of its set point. Let's say you want to keep AT LEAST 100 psig in the suction piping. The CV is upstream of the conpressor suction flange. If Pressure moves to 60, the valve opens allowing the suction pressure to increase, but only if the suction piping system can still supply enough gas to increase the pressure. If the increased pressure puts too much resistance on that supply of gas, no pressure incease occurs in the suction piping, even if the CV moves to full open, which it will. On the discharge side, if the discharge PCV's set point is 515 psig, but the compressor supplies only 267 psig, that valve closes as it attempts to increase the pressure in the discharge piping between it and the compressor. But, we've already seen that the compressor cannot reach that pressure, without changing the clearance pocket settings, making the compressor volume smaller (thereby increasing discharge pressure range). It can only reach 267 psig. Now, as the prevous paragraph explained, gas trapped in the discharge piping at 267 (remember, the discharge valve closed) backflows to suction and is reduced to 125 psig as the compressor returns to inlet draw position and the gas flows out into the suction piping.
Independent events are seldomly independent.