Fascinating question, and not one I've ever heard from a student.
On the face of it, my baser instincts would be to reserve that air for breathing. But since you can breathe out the air in your BC, maybe the smart money would be on parking it in the BC to ease the ascent until it's needed. However, research (including reports at DAN) on inflating BCs at significant depth is pretty gloomy--it's a slow and air-intensive approach.
Realistically, however, if I've been so dumb as to run out of air and out of buddies, I'm probably not going to notice that I'm very very low on air. I'm going to notice instead that I can no longer suck air out of my second stage: I'm "out". So the question of how best to use the last remaining air will probably be moot. In addition, I might well decide to drop weights and risk DCS.
I put "out" in quotes because as I ascend from "deep" (say 80 fsw) the reg will be able to deliver me another breath or three as the ambient pressure drops. At least that's the theory . . .
-Bryan
Well, a good instructor will first teach you to monitor your own SPG and also that of your buddy's periodically as well. The text manuals say every 5 to 10 minutes.
This would be plan A.
Let's say you did not pay attention in class, or else you did not have a good instructor, and now you are at 100 fsw and the needle of your analog SPG is on -0-.
A good instructor would have taught you to be neutrally buoyant at all times. And if you are, all you would need to do is kick up a little to begin your ascent. In a wetsuit, the wetsuit decompression would begin your propulsion upwards. From that point up, you would need to carefully bleed air from your B/C-wing to control the ascent. In a drysuit, you would also need to carefully bleed air to control it.
As you ascend, your ambient pressure would decrease, therefore even though your SPG read -0-, your regulator would be delivering more air/nitrox for you to breathe from your tank, since that is how the laws of physics work!
[Note: the laws of physics are not really "laws" but rather observations and conclusions, a form of opinion, by science professionals, who see these "laws" recurring continuously. Technically, to be a "law" something must be uttered by a king over a matter within his jurisdiction, which is the actual origin and definition of the ancient Persian word "law" which means "of the king," and that is how the word made its way into English.]