1000psi reading is normal. It will remain that way until all the liquid CO2 is used up and you're only left with CO2 gas in the tank. Then the reading will slowly drop down as the tank is emptied. There's no need to close the main valve on the tank. Just open it fully and close it when you're transporting/moving it.
As you're using a manual regulator, the bubble count will not be stable. It will be rather hard to get a stable bubble count. I suggest you invest in a proper electronic solenoid as they come with a needle valve for you to fine tune your output.
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