Probably Dragon will chime in, meanwhile here is some input.
Different regulators have different sensitivity. The higher the pressure the more difficult will be to achieve a low bubble rate as the needle valve will have to be almost completely shut off. Usually what happens is that at low pressure with regulators that are not that sensitive is that you get some kind of oscilating pressure. When the gas is slowly released from the regulator the pressure slowly drops, at certain point the regulator opens to replenish that pressure but because it is not very sensitive it will overshoot so the pressure increases rather than stay constant, at that point the bubble rate increases until the pressure starts dropping again so the bubble count and the cycle starts all over again. In this case increasing the outlet pressure (right gauge) will help a little bit but try to set the pressure at the minimum setup that minimizes the swings. Also insure that the gauge is reading zero when there is no pressure in the regulator (needle valve open and regulator center knob screwed out until it feels a bit loose). If the regulator does not read zero it might have lost the calibration. This might happen when opening the cylinder valve while the center knob is screwed, this usually sends a shock (sudden surge of gas) right to the outlet gauge that may make it loose the calibration ore completely damage it.
If the gauge reads something when there is no outlet pressure and the reading is small, say around 10 to 15 psi the gauge may still be usable but when in use you may be reading a higher pressure than what it really is.
So, check the gauge reading at zero pressure, if it reads other than zero whatever it reads it is aproximately the value you need to deduct from your reading when in normal operation.
Regarding the alkalinity you shall adjust the reactor to keep it constant and not try to increase it. Use part A (Alkalinity part) or use Baking Soda to increase it where you want it. Again the reactor shall keep it constant.
In some cases when the bubble rate is too high or during start ups air or CO2 gas gets accumulated on top of the reactor, if the pump is seated on top it may loose the priming. You can open output line 1 to vent the accumulated air or gas and close it afterwards. A trick that may also work well is just to leave line one open just slightly (3 or 4 drops per minute) that will be enough to automatically vent any potential trapped gas. Do not submerge the line of outlet one in the water so the released gas is vented to the air rather than bubble inside the aquarium water.