Mike,
To answer your question ... yes.
As an example … if you are attempting to set a AN470AD4 rivet you would want to first use the 4 cutout on a rivet length gauge (not shown in your original post) to select the proper length of the rivet for that location. Then select the #4 rivet set gauge shown in your post to check for a proper set. (If you are setting AN470AD3 rivets you would use the gauges stamped with a #3).
The gauges you showed in your post are used after setting the rivet to determine if the shop head is set correctly. In the above example you would use the rivet set gauge marked #4 and slide the slot over the shop head of the rivet to determine if the rivet is set too much or to little. The hole in the gauge is also very helpful … if the hole slides over the rivet’s shop head with lots of play, the rivet is still way under set. I was taught that ideally, you want the shop head set enough so the tool almost slides over the rivet’s shop head but not quite to the point where it will.
The above is a balancing act because there are instances where one size rivet is slightly too long and the next size down is a little to short. So when using the gauges it becomes somewhat of a compromise.
Happy building,
