No,your not looking at this right.When you pressurize the 1 litre cavity above the water in the test cell to 14.7 psi,then release it into another 1 litre bottle,both bottles will be at zero pressure.If you have any pressure left,it will balance out between the two.Then that means you have more than 1 litre in each bottle.

When you start out with the air cavity space above the water,it is at 1 atmosphere.When you pressurize that cavity to 14.7 psi,now your at two atmospheres.Then when you release that pressure into another 1 litre cavity,you end up with 1 atmosphere in each bottle.

0 psi on a pressure gauge is equal to 1 atmosphere.

If you make 1 litre a minute, than that is equal to 1 atmosphere of pressure or 14.7 psi,in a 1 litre cavity.

Hope this helps

Don