Maybe. Who knows what the previous owner did. I always double-check adjustments when receiving used guns.
Following kermit's advice, turn the rear velocity screw out so it's flush with the backcap. Then turn it back in 2½ turns (using an allen wrench, make a complete circle twice, then a half circle). Now shoot over a chrono, see where it's at. Then adjust the inline reg as necessary to get desired velocity (if it's the stock azodin reg, counterclockwise increases pressure/velocity, clockwise decreases).