You could always just set the thing at a known angle and pressure, and fire it. Use a stopwatch to track the time, and...something to check to the distance (one of those little rolly wheel thingies?). Then use the kinematic equations to derive velocity. Repeat as many times as you want. Although, I doubt firing angle will matter, since the ball's time in the tube is too short for the acceleration of the Earth's gravity to begin slowing it.
Then just plot them to a least-squares line. If you have enough trials, you'll get decent results.
Also, someone above mentioned having actually known velocity values for their launcher. If the ball launchers are of similar design, then they may also be dynamically similar, and you could use the buckingham pi theorem to figure out your velocity that way using dimensionless groups.
They would just have to post their ballistics data and launcher specs for you to analyze.
For the hell of it, here's some stuff using that method:The variables I chose to analyze are:
Pressure, P
Tube Length, L
Tube Diameter, D
Ball mass, m
Velocity (duh), v
time, t (I suppose the time period between firing and impact. You can measure time between any two points, as long as you're consistent between trials.)
The pi's come out to be:
pi1 = (mv^2)/PD^3
pi2 = L/D
pi3 = vt/D
The first pi is probably the most important one. Correct me if I'm wrong, but I am interpreting this as the ratio of the ball's kinetic energy to the work done by the gas. This is similar to what Shooting star said. Ideally, this ratio should be constant between trials for varying pressures, but in practice, it will probably change due to the system's dynamics.
The 2nd pi is simply a sizing factor. Obviously if you're tube were infinitely long, things would be different. It doesn't matter much though because I'm assuming you're not going to try and make correlations based upon tube sizes, but it allows us to generalize the results to any pneumatic ball launcher of similar design.
The 3rd pi is of course, relating the distance traveled by the ball to the diameter or length of the tube. (probably length is more appropriate, but that's what the math gave.)
From the theorem, each pi is a function of the other two. After a bit of hard work, you could make an empirical chart or equation to give you the velocity as a function of pressure by correlating the 3 pi values. It will just be time-consuming.
Better though I suppose than trying to figure it out analytically!