Gary, I won't try to get into the technical aspects of why the air pressure in the tire stays the same whether the tire is on the ground or jacked up, but it does; at least so close you won't know the difference. Did you ever notice when you have a new tire mounted, or a flat fixed, that they air it up to its required pressure before putting it on the car? And the main reason I prefer jacking it up is just so it doesn't try to push any liquid out. Probably not necessary; just my own preferred method.
Freds, I don't even know exactly what's different about the air/liquid gauges from the air gauges (stainless steel maybe?). They look the same and not much difference in price, but the ones made for liquid don't corrode like the one made just for air will. And it may not be "necessary" to give it a short burst of air first, but I just like to clear the valve stem and get as little liquid in the gauge as possible. I know if the liquid is nothing but water, it won't hurt the gauge, but I'm not so sure about calcium.