Everything Rubycon said is correct. But I would also like to add a few other factors here as well. I'm an Instrument Technician by day, and as such have a lot of experience and knowledge regarding flow meters, pressure sensors, etc...
The MPS400 you have uses differential pressure measurements to give a flow rate. The only way this can work is that the MPS400 has to have a fairly significant flow restriction itself in order to obtain the two separate pressure readings. I will provided a picture to help explain.
Your readings from your flow meter will be
heavily influenced by any turbulence in your loop, especially the presence of microbubbles in the flow, as the will have a noticeable effect on the pressure drop after the restriction device (orifice plate). Another component that introduces turbulence into your meter is the arrangement of the tubing/ piping. For a meter like this to be accurate, you should have it installed in a place where there is a straight line for at least a few inches before and after the meter. This assists in achieving "laminar" flow, and reduces eddies in the flow which can give erroneous readings.
As for your original question, I wouldn't worry about a small decrease in flow rates, as this could very well be attributable to the settling out of microbubbles and the wearing in of the pump. As Tweakin and Rubycon said, then you can worry about it.
As for calibration, to achieve this normally you would need a separate flow meter that is already calibrated and installed in the loop, and could then find a calibration factor to offset your readings to the correct ones. I do not know the MPS400 software suite, it may have a different process, but either way you would need accurately calibrated gauges/ meters for this to be viable.
The only real use for a flow meter in a loop like this is as a proof of flow, loose troubleshooting tool. You should never rely on the meter for accuracy in measurement, but it should be good for +/- 10%, depending on the installation, and the quality of the sensors used. What it will tell you is that your system is flowing well, at what pressure it is flowing at, (at the point of installation at least), and it should allow you to plot over time any loss of flow.
Hope this helps a bit with the understanding of the meter itself if nothing else. You should understand though, the use of a differential pressure to determine flow does so with a
significant restriction to flow.
Cheers, and good luck with your loop
:thumbsup: