Sounds like a lot of fun. We've never cooked a fish on my boat. We're usually alternating teams and running around to the next drop.
As far as losing a pole, don't feel bad. About three months ago I dropped down on a reef. I was shooting well that day and ready to tear it up. I saw a snapper about 15 feet from the bottom, still in my descent. Bam! Stone him. Complete the descent, string him, and ready for the next. Uh, where's the speargun? I forgot to run my arm throgh the bands to keep it by me (I was freeshafting, and that gun, unlike the one I normally use, turns positive once the shaft is deployed). There I am, 90 ft down, and my gun on the surface. Never found it. $500 mistake. Man, did I feel like a moron.