to purchasing an excellent Magnum springer from Diana.
I 'm not the "guru" on 350's as Dave said but thanks for the nice compliments anyway Dave

I have just used the 350 extensively I think with many different pellets and conducted some tests but have also taken a few different kinds of game with it using various pellets.
Having owned an R1 you will probably appreciate the lighter 350 that weighs in at 8.3lbs on my digital scale without a scope.
You must shoot the 350 without a scope for the first 500+ pellets to get it broken in. It is recommended however (and I highly recommend the same) that you have it tuned before mounting a scope on it. Not as much as for the sake of a new scope, but also to make the gun more enjoyable with a quicker more efficient shot cycle. I am not just talking about a basic tune of debur & polish with Maccari lubes although that helps a lot and is the minimum you should do to a 350 or most Dianas. The gun is fine the way it is but will need servicing soon either way for the much needed lubes because they usually come very dry from the Diana factory. You can't have that with an Ultra Magnum springer that has 22-24FPE with most pellets right out of the box.
The 350 shows its true colors and power with an "advanced" tune that enables it to hanlde all that power more efficiently without stressing the spring, the piston, or the seals, which can result in some damage or premature spring failure after a few thousands shots. If you want to detune it to 20ft-lbs Jim Maccari makes a kit for it, or you can go the other way and tune it to hanlde its OEM power with the factory spring or attain more power and still have it shoot better than stock with increased longevity and much longer periods in between servicing. Again a good tune goes for any gun but more so for Ultra Magnum springers like the 350.
The 350 is a great field hunting gun in either caliber but .22 is usually the preferred flavor to keep velocities in the more manageable mid-800's (or even high 800's w/14.x pellets) instead of 1,000+fps in .177. A healthy stock 350 will shoot a ~16gr JSB Exact Jumbo at 800-810fps. The main reason you might hear that the gun is worth getting in .22 over .177 is because the .22 version puts out on average 2ft-lbs more muzzle energy than .177. So if hunting is the main reason you are considering the 350, then the .22 version demands serious consideration. The gun is well built with a very decent beech stock and checkering and will withstand some field or general abuse without any damage done or effect on its performance (no problems even after dropping it). Well worth its relatively "low" price.
Best pellets to shoot are medium weight pellets 14-16gr in stock form (non-tuned), as its LONG OEM spring can fatigue over time with heavier 18-21gr ones as was indicative when mine was taken apart. A proper tune early on would have avoided that situation as half the pellets that were shot from my 350 were 18.2gr Crow Magnums and 21.1gr Kodiaks. The gun seemed to really love shooting those heavier pellets and was extremely accurate with them, but the spring fatigue was so slowly gradual that it was extremely difficult to notice any difference in the gun's behavior/shot cycle. If the stock spring were shorter and wider, heavier pellets would not have had much effect on it. My 350 was also completely dry after 2,700 shots when it was taken appart which also accelerated the process of the spring losing some of it properties. Mine was still shooting 840fps with CP's and ~790fps with JSB Exact Jumbos 15.9gr (down 20fps) with a degraded spring, but the shot cycle had diminished after ~2,300 shots and was exhibiting a slightly more "rough" behavior. This does not apply to just the 350. All Magnum and medium powered Dianas need to be kept sufficiently lubed and be shot with the proper weight pellets.
The 350 is surprisingly accurate in stock form for a Magnum gun of this power range. It also helps that 14-16gr pellets don't start their downward trajectory until after 35-40yds. Lighter pellets of less than 14gr should not be used in a 350 .22. They will do more harm than good.
I think that the 48 and 350 are the best bang for the buck, but if you want some more checkering and power, or are not crazy about side-levers and love break-barrels then the 350 is the right choice.