I have had my tyre pressure pump complete with it's own gauge for many years and check my pressures every week. Recently my car was serviced and MoT'd by my son's garage and when I collected it he asked if I knew that my tyres were 6psi over inflated and that he had set them at the correct pressures using his regularly calibrated gauge. I obviously didn't and when I got home, when the tyres were cold, I checked them against my trusty pump/gauge and sure enough the gauge indicated that the pressures were 6psi under inflated.
The car felt different on the way home, obviously less harsh on the road but the handling felt better as well. I checked the tyres for even wearing and they were fine.
I have since bought a standalone gauge from Demon Tweeks, a motorsport supplier, and checked it against my son's calibrated gauge.
Presumably the fault with the old gauge had progressively occurred and wasn't noticeable over a period of time. The car is noticeably nicer to drive and the fuel consumption hasn't suffered as a result of the lower pressures.
Vic.