Hi! Thanks for your comments.
The fan I'm using has a label indicating it runs at 12V, 2.6W, giving 220mA current. I checked with my meter and it was 100mA when running, I assume the 220mA is a peak current. 220mA is what I used in the design formulae for Iout.
The inductor I'm using is one of a 'Colour Wheel Inductor' pack I ordered on eBay - see the picture. They are supposedly 0.5W, and the markings indicate 10% tolerance. Would the type of inductor winding method have an effect on this circuit?
The diode is a 1N5819 Schottky, which from datasheets should have a forward voltage drop of 0.6V (this is what I used in the design formulae).
The circuit was actually for an adjustable supply, but I swapped R2 and R1 out for non-adjustable resistors to simplify debugging and for when I posted this question.
Finally, I tried upping Ct with no noticeable effect. 330pF gives 7.6V, 470pF gives 7.7V and 820pF gave 7.1V.
Thanks again for your comments - I hope with this info you can make some more suggestions!