My first thought was that if this guy weighs 160 pounds, 28 pounds of weight is way too much. Maybe I'm wrong, but at 180 pounds I dive with 12-14 pounds and I'm wearing a 7mm full wetsuit with hood, Aluminum 80 tank, 85-90 feet deep in fresh water, with bottom temp in the high 40's.
But that's secondary. Too often newer divers aren't taught about ditching weight or performing an effective emergency ascent from depth. As someone else mentioned, my idea of a "catastrophic failure" would be a medical emergency. And every year divers die because of panic when faced with a challenging situation where most of the time they put themselves into a situation that they are not trained to deal with and are literally "in over their heads".
I agree with the gentleman who mentioned about having a pony bottle along. I won't consider going 90-100 feet deep without having some sort of contingency or redunant safety measure. A 13 cuft. pony bottle with 1st and 2nd stage regs is part of my standard equipment.
Were proper equipment checks performed pre-dive? When was the last time the equipment was serviced? What kind of pre-dive plans were formulated and agreed upon. I know I'm spiltting hairs here, but if a dive is well planned, emergency procedures are agreed upon and reviewed.
I often wind up being the dive team leader at Dutch Springs with the guys I dive with. Before every dive, we agree that upon intial descent, usually to a platform, we all perform at least one or 2 basic skills; i.e.-mask removal and replacement, regulator recovery, buddy breathing, etc. just as a reminder that the basics could mean the difference between life and death.
I probably strayed from the original gist of the subject, and no I didn't take into consideration the compressionability of the wetsuit, saturation rates or any of the technical facets of scuba diving, but again, a well-trained and well practiced diver should be able to react in a rational manner even to a "catastrophic failure."