As others have said, its a great way to see what is going on with the engine that may not show up in a cranking compression test. Used the running compression test just this week to ID a cam lobe that was worn just .030". Running compression test at idle was about 12-15 psi lower then the other cylinders. Cranking compression results were negligible.
I would like to see a digital compression gauge in action. I'm so used to the behavior of my mechanical gauge, I'd like to see how they compare. I also have a pressure transducer for my labscope that really does an excellent job of showing exactly what is going on inside the cylinder. If the resolution of that is packed into a digital gauge, I think it would work great.