Alan,
I have the PSI one that you are talking about. I used it to disassemble a couple of pens before finding an alternative. It did work; however, I didn't like all of the fiddling around getting it set up for disassembly and then putting it back when I got done -- I am just too darned impatient.
Since then I have been very happy with the "Soft Jaw Barrel Gripper" from PSI and their "Pen Disassembly Punch Set". I also make use of my 4-inch bench vise and an inexpensive 16oz. Double Face Mallet.
My process is to grip the body of the pen in the Soft Jaw Gripper, hold the gripper and pen body in my bench vise. This lets me apply just enough pressure so that I can tap on things and keep them from slipping without causing damage to the blank. Then I choose the appropriate punch and tap it a few times with the plastic face of my mallet. I have disassembled many using this method and so far haven't damaged anything.
I think the impact from tapping is much more efficient and reliable for disassembly than the constant force applied by the PSI press.
Regards,
Dave
PS Instead of the PSI Disassembly Punch Set I started out with an inexpensive set of transfer punches - the ones that have the sharp point on one end. They worked OK but I found that I liked them more for transfer punches, so I bought a set of the disassembly punches that are flat on both ends to use for pens. I also started out with a plain old claw hammer but changed to a plastic faced mallet as I found I was sometimes mushrooming out the ends of the punches with the hammer - not enough to cause burrs, but enough to make them go out-of-round or to have the diameter increased just a smidge on the very end.