Interesting discussion, I appreciate the scenarios and past experiences. To address a question, I carry a Pony because I want an alternate air source, not just a means to reconnect to my only source. If I have a major gear malfunction, cut hose, failed first-stage, free-flow, I want a source unaffected by the original problem.
Frankly I don't understand why a pony isn't required (assuming of course you not diving doubles, etc)? I know that failures are fairly uncommon so I see the reasoning that the risk is so low that the requirement isn't needed. I just figure if I get into major trouble I want my rescue to be on me, not on somebody who may or may not be around. I can't imagine a situation where both first stage, or both hoses, or both tanks, or both second stages would fail at the same time?
Why is an SPG not needed on your alternate air source? I have a fair idea of my sac rate (it changes very easily). I have also removed my mask in 30 feet of water and had my breath actually yanked from my lungs (scared the crap out of me). The cold (48deg) hit my face and my air was gone, freaky. I imagine under a real emergency a similar reaction might happen and I would think you would need to know how fast your burning up your "gas"?
Or is it just that your ascending anyway so what difference does it make? If your low and breathing gets hard, your just gonna kick to the surface anyway, its not like the SPG is going to add air to the tank. The thought of going OOA a second time on a dive without seeing it coming, sort freaks me out. I would probably prefer to see it coming the second time.
Slinging a pony bottle and the size. I chose a 19cu bottle because from the rec dive limit at more than double my sac rate I can safely surface with a safety stop. Why would I want to carry a 30 (for my needs)? Why would you want to sling a bottle, so you can hand-off YOUR alternate air source? Why would a rec diver who dives reefs mostly between 50 and 75 feet of depth want to carry a bottle in front of him instead of out of the way on your back with the other tank?