nyresq once bubbled...
...leaving the o-ring off one of the tanks for a quick test.
This I have seen and unless you tighten down the valves with a wrench, you will get a pronounced hiss when you try to fill it. Even tightened down with a wrench (which you should never do) you will still get a slow leak that will show a tiny bubble stream underwater or in a fill bath and will dump about 100-200psi per hour, so over night your tank will almost be empty. The threads are too restrictive to dump a tank in 10 seconds or a minute unless the valve was loose to begin with in which case when it gets filled, it will fail right away. Showing the urban ledgend of a catastrophic failure of a tank O ring "blow out" is a very slim possibility.
again I ask, does anyone have first hand experience with an o ring failure or have seen it first hand on a buddy?