Nitrogen doesn't matter since you're not taking breaths underwater. You can free dive until you get tired. Your level of conditioning will dictate how long you can spend free diving. As far as how deep you can go is up to you, how long can you hold your breath? When I was in my best condition I did 80-100fsw dives pretty easily, even shook a surprised scuba divers hand in Hawaii at that depth. The slower the heart rate and the more relaxed you are the longer you can stay down. If you are diving with a wetsuit I recommend using some weight. Most of my dives were in warm water with nothing more than a snorkel, mask, board shorts and fins. The only thing your computer will tell you is you dove this deep for this long and the water temps, nothing more. There's a world famous free diver that dove the blue hole in dahab on you tube thats worth checking out.