I was a skin diver for a few years before (officially) moving to scuba and I think that was a lot more common then than now. The upside of that was under standing proper weighting and how to take advantage of wet suit compression.
For example, skin or scuba, you weighted yourself so that you floated vertically at eye ball level with full lungs (at the end of the dive with near empty tanks with scuba). When you exhaled you sank, and at about 15-20 ft with full lungs you were now neutral due to wet suit compression. That made it easy to decend, did not leave you excessively over weighted on the bottom for most of the dive, was very hand for the end of the dive deco stops, and allowed you to rest on the surface at the end of the dive, even without other floatation.
The volume of a wet suit is not as linear as air and, particularly with older suits, they were more or less fully compressed by the time you got to 60 feet or so.
There was a greater tolerance of being heavy and touching bottom during the dive, but the swing weight from even double 72s can start to be a problem. If you used the whole 144 cu ft, you'd have 11.6 pounds of swing weight and with a 500 posi reserve, you still have a 9.2 pound swing weight and that is more than you can efficiently compensate for with lung volume. On the other hand most people in good shape could swim 10 pounds off the bottom.
However by the mid 1960s horse collar BCs were fully intended to be used for buoyancy compensation, not just surface floatation, power inflators were the norm by 1970 and few companies had integrated BCs on the market in the early 70s.
In that regard, when doing vintage doubles dives, I use a horse collar to allow precise buyancy control without compromising breathing efficiency.