Thanks for the feedback guys!
I have attached pictures of the mostly finished product.
I was planning to have the tubing between my lower back and the plate. Once I tried the plate out with a tank I didn't really notice it digging in anyway. Hopefully I can get a chance to pool test first but if not, I plan to zip tie the tube on (because I have both anyway) and cut it away if I find its not working.
I don't have an accurate enough scale but I figure its close to 1 pound. From a loading standpoint its only the weight of the tank while getting in - once underwater the tank isn't much load static or dynamic. But I played it a little safer as you had recommended and left out some of the holes.
I figured I could always add more holes but tough to remove them. The work of drilling was trivial but the -15F temp while I was in the unheated garage drilling motivated speed!
The point of trading Al vs Pb is valid although my intent was to reduce the weight of my luggage and I'll use the lead from the shop in Mexico. I plan to make a stainless steel version without weight reduction this spring for Lake Superior.
Lastly, any thoughts on this harness idea? I wanted something strong, cheap, with few failure points but with a sternum strap. I've been thinking about a solution for weeks (wife would say obsessive) and I think I have one.
I'll use one long strap from the backplate, over the shoulder to a homemade aluminum crossing plate which redirects across the sternum and loops back to the plate then down an at angle to the backplate. PDF attached but the web path is complex:
straight down from shoulder on top of plate, tucked into short slot,
folded around lower side of long slot (since it is at 45 deg the strap is now pointed across the chest),
doubled back on itself as threaded through a side disconnect buckle,
folded back around the long slot so it is pointed up,
folded over thru the short slot (22.5 deg so the strap now points 45 deg toward back/waist),
finally tucked back thru the long slot and headed toward the lower backplate slot. Mirrored on the other side.
The triangle areas are just space I left to make the plate-backplate angle steeper if I need to. Believe it or not, I tried it out with paper and the path seems to work - I feel like an origami master now.
Thanks again for your comments!