not just toxicity, depending on your dive profile and length you can also burn your lungs with the high PO2's and that reduces offgas efficiency. Huge part of why CCR divers typically run PO2's closer to 1.0 vs the 1.4 that most OC divers use
Certainly true, but even for the average tech diver, CNS toxicity is really the concern. Take a look at figure 11 in the attached paper. You really need a big oxygen dose for a fairly extended period to start seeing a loss of pulmonary vital capacity.