I'm guessing this regulator is for some more heavier usage than beer? The dial on the left is psi but seems to have 1000 psi increments, while the other is CFH/LPM (litres per minute?)
Whats the story should I send it back?
(http://i.imgur.com/S0dEkbcl.jpg?1)
(http://i.imgur.com/MAkqz5hl.jpg?2)
Industrial. It will still work but it'll be hard to get an accurate reading. You should use it alongside a SRV (secondary reducing valve/reg) to get full control on output.
looks like a welding regulator
Yes its a welding CO2 reg. The left hand gauge (high pressure) will display a constants pressure of about 800 psi until the bottle runs out, then it drops quickly (as all the liquid CO2 has gone).
The good news is that the right gauge is a pressure gauge (its NOT a flow meter!) and probably ranges from 0 to about 100 psi. (probably just the stand low pressure gauge fitted with a flow meter scale)
So there you are, if the right hand dial is on 10 LPM then you probably are running 20psi. If you can borrow a pressure gauge you can qickly check.
HTH: Will