To provide pressure regulation, limit pressure rise rate and control the speed of a fluid operated system with a control valve, a pilot operated valve member is in communication with a fluid passageway on both the inlet and outlet sides of a butterfly valve. The pilot operated valve member is also in communication with an actuator operable to move the butterfly valve between a closed position and an open position dependent upon fluid pressure on the inlet side and outlet side of the butterfly valve. By utilizing fluid pressure signals delivered to three separate chambers, the pilot operated valve member is capable of controlling valve opening ramp rate, pressure variations within the limit of a set point, and adjustability of the set point.