The Actron CP7828 looks to be a normal "automotive" type gage. Actron itselfs describes that gage as: The Professional Compression Tester kit works on most foreign and domestic vehicles, small engines, motorcycles, snowmobiles, and ATVs.
So, not sure what makes this gage different - unless . . . you're trying to make a case for some gages provide a more accurate indication of actual "in cylinder pressure", then you are of course correct. If the goal is to determine the pressure closest to that in the cylinder, then you'd need a gage that connects the smallest volume possible to the combustion chamber. Think of it as replacing the head with one with a larger combustion chamber volume - the compression values would of course drop. The longer the hose, the more volume within the hose, the more volume in the gage itself - all contribute to a lower indicated value in psi.