Keep in mind too that PSI doesn't necessarily equate to mass of air, or actual power.
In Calgary, Alberta, you're at 3500ft elevation above sea level. Go to Vancouver, and you're at sea level. This means that compared to Calgary, an NA engine is running almost 2PSI of boost just by driving to the coast. This also means that if you were just under FCO in Calgary, you'll be hitting it in Vancouver fairly often. On the flipside, if you hit FCO in Vancouver once in a while, you probably won't hit it at all in Calgary.
Add in changes for temperature, or just weather, and PSI isn't necessarily a very accurate measure.
Also, 12 PSI on a CT26 is not going to be the same as 12 PSI on my 60-1 turbo. My turbo will have a different efficiency at that rate, and will flow more air, with less heat than the CT26 will, so even though the manifold pressure is the same, there is a greater mass of O2 entering the combustion chamber, which means greater cylinder pressures, and more power.
tl;dr: It depends on your tune.