A chip does not increase fuel pressure.
Fuel pressure on a PSD is mechanically controlled. Looking directly at the fuel bowl, the regulator is on the driver's side of the bowl.
Increasing the pressure by itself won't net you any real horsepower gains. However, it does help to "smooth" out the engine, most noticeably at idle. In bone stock form, most PSD's register betwen 40-55 psi of fuel pressure. Most people find the sweet spot to be between 60-70 psi.
In order to increase fuel pressure, you have to modify the stock regulator, or bypass it and install an external regulator. Of course, maintaining increased pressure will directly correlate to the strength of your fuel pump. The stock fuel pump can typically hold 60-70 psi on stock injectors, even with a chip. If the pump is a little weak, pressures can drop a bit on hard acceleration.