During initial testing of the Aquatech "Black Sea" gun a spear of 9 mm diameter was measured exiting the gun at 45 m/sec. Some of the gun testing articles are still on the Web, but not the speed measurements as far as I can tell.
I remember that muzzle velocities attained were certainly over 40 m/sec. and mainly around 43 m/sec. In order to make any gains at these high velocities gun power needs ever larger increases for each extra increment, hence it is a case of diminishing returns as drag increases rapidly as the shaft has to virtually tear a hole through the water. Once that cavitation sheath collapses then the shaft experiences surface drag which soon pulls the speed back. Once it is flying the trailing shooting line stabilizes the shaft.
That is nuts. So if that speed has been reached why is that not our norm? Our average (band guns) do what, 30 m/sec?