I have never tried the Actis band, but have tried the adjustable constriction ring as Paul described. I have never found it to be very satisfactory. Even without hair getting in the way, skin still gets in the way, and I find it difficult to adjust without pinching -- ouch
I have found ordinary office rubber bands to be highly effective. Mine are around 2" diameter and doubled over, they give a snug fit -- I normally use four. They work with a cheap VED (pump) too, and are much superior to the horrible sleeves that came with mine.
You can apply at least some constriction before inducing the erection. Arteries (inflow) run up the center while veins (outflow) run on the outside, so constriction operates on the veins much more than arteries. For me, blood still gets in, but finds it harder to escape.