storker:
I really dislike the rule of thirds. For open water diving, it's seldom a good rule. It's either too conservative (in the shallows) or too liberal (at depth). Do a proper min gas calculation and compare the output to the rule of thirds. The former depend heavily on depth, the latter not at all. Which makes no sense, since depth is one of the only two factors determining what your reserve should be.
It depends on what you do with it. I would not use the rule of thirds, halves, etc to calculate a reserve but for turning pressure it is useful depending on the context.
The purpose for rule of thirds is to get yourself and your buddy safely out of an overhead environment to open water. A third of the gas to go in, a third to come out, and a third left in reserve. As
@Storker quoted above it's use is rather restrictive for open water except for one condition: where you descend, swim out, and
absolutely must return to the entry point (i.e. descent or anchor line). Some plausible scenarios might be situations where one could pop up in heavy boat traffic, or on a night dive in heavy seas, or in high surface currents.
The rationale for the rule of thirds is based on a worst-case scenario where one of the divers has a catastrophic gas loss at the furthest point in the overhead, and both divers must share gas to exit safely. For those of you who are unfamiliar with how to calculate rule of thirds, here is an example:
Diver 1 uses an AL80. Tank factor = 3000 psi / 80 ft3 = 37.5 psi/ft3.
Diver 2 uses a steel 95. Tank factor = 2400 psi / 95 ft3 = 25.3 psi/ft3.
Tank factor is rated pressure divided by rated volume. Base the turn pressures on the lowest volume of the two divers which is Diver 1. To surface with a reserve pressure of 400 psi the turn pressure of Diver 1 is 3000 - ((3000 - 400) / 3) = 3000 - 867 = 2133 psi. The volume of this gas is 867 / Diver 1's tank factor = 867 / 37.5 ~ 23 ft3.
To calculate Diver 2's turn pressure multiply Diver 1's
usable 1/3 volume with Diver 2's tank factor and subtract from full pressure which equals 2400 - 23 x 25.3 = 1818 psi.
Whichever diver hits their turn pressure first, turns the dive and both divers head back to the starting point.