This is working as intended. The number of pixels is measured in DIP (device-independent pixels) and is not affected by DPR. The number of real physical pixels equals DIP multiplied by DPR. In the case of emulation physical pixels depend on the real display, and thus are not emulated.

Take ipad1/2 and iPad3. They both have the same diagonal size (therefore same DIP/DP). 
iPad1/2 has a resolution 1024x768 with DPR 1.
iPad3 has a resolution 2048x1536 with DPR 2.
Now, in the device mode when i have these two devices.
both of the settings have to render a window that is 1024x768.
But that doesn't happen. (As i understand that is because the value specified is DIP and not the resolution) 

P.S: When i selected the iPad that has already been listed with chrome settings in the devices, I see the pixel values 1024x768 and DPR 2, also the widow rendered is 1024x768.
So what I am asking here is, it will be helpful if the user has the option to specify either the resolution (physical pixels) or the DIP that is already available. 

Please let me know if I am missing something here and BTW you guys do great work!
 
 
 

We made a specific decision to go with DIP, as that number is visible to the web page. I see where your confusion comes from, but I'd rather avoid having both physical _and_ DIP pixels, as it would be even more confusing. Maybe we should have an explanation somewhere (in the tooltip or the documentation) to emphasize this. I'll look into that.

Thank you for the explanation. As almost all device spec sheets have the resolution (physical px) specified and not the DIP in px, I thought having the physical px would be straight forward. 

 Issue 610432  has been merged into this issue.