Does .5 bar make a difference, I think it does. Some believe that there is a noticeable change at much lower pressure changes. Some coffees work better at lower pressures and some work better at higher pressures. In a cafe that uses the same blend you can temperature and pressure profile the blend to get the best it offers. I rarely use the same blend back to back so I have to settle on a median pressure.
As to the pressure gauge tolerances on some machines, they are there as a guide, not an absolute reference. Let your taste be your guide and the gauge a reference point. All three of my machines had relatively accurate pressure gauges but two of them I added aftermarket. If the gauge reads 7.5 bar and I like the taste, that is where it stays. My Isomac with a vibe pump runs at 8.7 bar, my Faema rotary is set at around 8.9 and my Elektra is 9.1.
Once you change the pressure, you now have to experiment with grind and dose changes to see how it performs. Your technique needs to be developed so your shots are consistent otherwise you wont know if the change was due to a pressure adjustment, dose adjustment, grind adjustment, distribution adjustment, tamp adjustment or just shot to shot variances from technique.
If you want a more detailed explanation and examples of changes in the cup with changes in pressure read Greg's
Experiments in programmable, variable brew pressure profiling,
Brew pressure profiling update 2,
Pressure Profiling Update 3