The T3's "conservative" setting is, in essence, an altitude adjustment. When it's turned on, the times are calculated based upon (whatever altitude you told the T3 you're diving at) + 3000'. This reduces NDL/allowable bottom time, with all the ensuing physiological effects of doing so.
The biggest difference you'll see is on shallow dives; the difference diminishes with depth.
Here's a few examples; we'll assume you're diving at sea level and have an unlimited supply of gas.
At 30', if the conservative switch is "on", the T3 sets your NDL at 3:35. Turn it off, and you've got 4:20.
At 60', if the conservative switch is "on", the T3 sets your NDL at 0:46. Turn it off, and you've got 0:57.
At 90', if the conservative switch is "on", the T3 sets your NDL at 0:20. Turn it off, and you've got 0:24.
At 120', if the conservative switch is "on", the T3 sets your NDL at 0:10. Turn it off, and you've got 0:13.
Me, I turn it off above 70' (about 3 ATA, fresh water). Deeper than that, the bottom time gain isn't enough to convince me to push the NDLs.