You're missing the point.
I get the point you are trying to make but heat capacity is trivial compared to thermal conductivity in diver respiration, except maybe in the warmest tropical water. We are not just talking about sat divers in chambers but also immersed. That is why gas heaters are required below about 600'.
Thermal conductivity is largely irrelevant to respiratory heat loss. Any breathing gas will be heated up to body core temperature in the lungs regardless of conductivity.
Exhalation gas temperature on air is rarely at body temperature unless ambient temperature is high to start with. It is very close on HeO
2 even starting with cold gas.
We know that core temperature drops significantly faster on immersed divers breathing HeO
2 in hot water suits than air divers. It was not uncommon in the early days of deep bell-bounce and saturation HeO
2 dives for divers to keep asking for hotter water to the point that skin burns developed, but they were still quite cold. That doesn't occur in shallower water with richer O
2 mixes or on air.
Granted, the heat capacity of Helium goes up slightly at higher compression levels but so does Nitrogen's. Heat capacity is only part of the thermal dynamics calculation but not a big part in this application because the gas volumes are very high and the thermal equalization time is low.
It is a little better on diver-mounted CCRs because there is respiratory thermal conservation in the loop plus a slight increase from the exothermic reaction of the absorbent. The problem in cold water is the thermal transfer across the loop's components is pretty high.
The US Navy ran a series of covert saturation dives on CCRs in arctic waters to tap Soviet communications cables. They had to heat the loop with hot water along with the suits.
Does anyone use argon for suit inflation?
Argon would be more effective in a drysuit that air if you could prevent water vapor (perspiration) from contaminating the thermal conductivity of Argon. Check the chart above. Argon is about 30% less conductive than air but water is 2500% higher.