PeterF.
"Looking to rid myself of some pesky red squirrels (the little ones ... not grays). I have an older Walther LP-3, that shoots around 385 fps. Is this up to the job? (I have an RWS 48, too, but seems like overkill). Range would be about 25-30 feet; at that range accuracy isn't an issue with the LP-3. What pellets? TIA for advice. Peter F.[/quote]"
I also advise on the use of the M48 also with WCs or the Crow Mags, accuracy at those ranges will be quite good enough for head shots. I have shot small squirrels (Columbian Ground squirrels) with 200+ fps more velocity than you list and I considered it bare minimum.
Larry Gibson