yes. one gauge shows the cylinder pressure (~1000+ psi) while the other shows the output (working) pressure. the tap on the cylinder is the main control valve which will release/shut co2 supply.
normally, single gauge regulators are not regulators but simple throttle valve. the output pressure is almost uncontrollable and co2 flowrate is almost impossible to control.
needle valves may have an pressure limit of 10 bars (~145 psi). if attached to a throttle valve, it may leak or misoperate. worst case will be something flying out from the needle valve and puncturing something.
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