Just noticed this thread while researching the Deluxe Aqua-Matic prior to listing mine on eBay.
The Aqua-Matic was my first regulator - 1962 so I can add a bit of information. BTW, I still have it.
It was never an 'easy' breather. I was trained on a 2 hose Mistral which was not considered easy either but the Aqua-Matic was worse.
Having to spread 2 spring-loaded levers took a lot of effort.
But, it worked and we were divers so who cared about easy breathing??
The Aqua-Matic (note the correct spelling) was introduced in 1957; the Deluxe in 1959.
The Standard Aqua-Matic as it was called after the Deluxe was introduced, cost $29.95 in 1957, $37.50 in 1958 and 1959.
The Deluxe, which was way too expensive to buy at $47.50, $10 more than the Standard, had several neat features, some good, some bad.
It did have a purge button (called a "clearing button"), a good feature but it also had that silly "two-way breathing valve" which was supposed to allow a diver to switch from the reg to a snorkel attached to the reg. The snorkel was small diameter and short and the switch was hard to turn. It was simply easier to drop the reg and use your snorkel. Most diverse soon 'lost' the snorkel on the Deluxe.
A neat idea that didn't work.
However, both regs were a genuine piece of scuba history.
Regarding the purge, which was a good idea, when the Deluxe came out, all of us poor guys (we were all poor in the 50's - poor, happy divers) modified our Standard Aqua-Matic to have a purge button. It was a simple matter of drilling a hole in the plastic cover of the 2nd and installing a small bolt, nut and spring. The spring held the bolt out but when pressed, the bold would go in and push on the diaphragm to purge the reg. Most of these rusted out in short order.
Currently, a friend of mine is making Aqua-Matic diaphragms from silicon material. They do not duplicate the original which was quite complicated but they work.