bigcountry,
I have the same bow maxed out at 61lbs 30" draw shooting a 28-1/2" 384gr goldtip 5575 @ 266fps. The only thing i have on the string areleeches and a d-loop. I've killed two deer with it so far this year and absolutely love this bow and it's without a doubt a pure shooting machine. It's the smoothest, quietest, shockfreeand most enjoyable bow i have ever shot or owned. It's also as accurate as i can be with it.
The Libertyisn'tadvertised as a speed bow and it surely isn't one by any means but yours should do a little better than what you're getting.How heavy is your arrow and how long? You could go lighter and gain some speed andeither losethe peep or the kisser and get a little more. Also you may want to check the chrony or shoot it through a different one. If you make no changes at all then 240fps isn't bad and is plenty fast for hunting and i'll lose speed anyday for such a sweet shooting machine as the Liberty. God Bless! Mike