Yes, that is the best. But not if you have the rods installed in the case already.
Then you need a split one like the original VW tool.
Alternatively like the one I pictured and Glenn.
I really prefer to do my stretch install with rods on the crank prior to putting it in the case.
I use the JayCee taper ring compressor as well and put the piston in the cylinder before
mounting the piston on the rod. Just let the piston stick out if the bottom of the cylinder
far enough to mount the wrist pin. But if you have very short compression height and/or
the oil ring is covering the wrist pin hole the JayCee compressor is no go. I have seen
taper ring compressors for aircraft engines that have a single slot just wide ennough for
the connecting rod to go through. Maybe it will work with the VW engine and the cylinder
studs.
I also have the ring compressor Glenn posted a picture of and it also works great, I use
it when my JayCee taper compressor don't fit.
/Rolf