When you say one-way valve I assume you mean a check valve. I would be suspicious that the poppet in the check valve is chattering and causing your problem. It is down stream from the hose bibb, and you don't have a problem at the hose bibb.
Ding, ding, ding. I think we have a winner. That check valve is a lot more likely the problem than anything else you have mentioned. I hate PVC check valves and it doesn't matter that it is new, it could still be the problem. You don't need check valves above ground anyway. Remove it and see what happens.