A better regulator will a hold more stable pressure. Work with it and see what settings work best. Getting new equipment is always an adjustment. I've seen studios operating on pancake regulators... it's all in what you can afford and get used to.
The pressure settings on the regulator do dictate the rate at which the fuel flows through the torch. Of course you can adjust the amount of fuel with the needle valve, but at higher pressures, the gas is moving faster. That is how you get a driving flame. If you want a soft flame, the pressure on the low end is best. This elliminates the woosh or high pressure push through the needle valve and allows a softer flame.
