Hi All,
I just wanted to update everyone on my repairs. Changing out the main line PRV fixed my issues of pressure drop and changing the expansion tank fixed the over pressure issue when the water heater runs.
I checked the strainer on the water heater PRV and it seemed like it had some gunk in it but nothing terrible. I also found out while changing the water heater PRV and expansion tank that my main shut off was bad so I had to replace that as well. All in all it was a very good learning experience. I am glad I used unions on the PRV or else I would have had to redo the work (threaded pvc was leaking and needed one more turn on each side). So far so good with no leaks! I'll be going out and getting supports tomorrow. Here are some pictures for those interested. The incoming pressure is 130 psi and is reducing down to 55 psi (65 when the water heater is running.) When multiple faucets are opened it drops to 45 psi.
Thanks everyone for their help!!
Dan