The ring check is also used for grinding wheels to check for cracks before you bring them up to speed.
Almost the same can be used to tell if a tank is filled. Lift a tank about 4" above the floor (good solid concrete floor) and drop vertically. You will get a ring. Works even on aluminum. The more pressure in the tank, the higher the pitch of the ring. Comes in handy when filling a bunch of tanks and you are sorting out the half fulls from the nearly emptys.
I saw a reference above stating that OSHA requirement for DOT standards. Could you provide a link to back that up? It's nice to spread myths, better to spread facts. So far that is the only one that looks to have any impact to what this thread started life as. requirements for non-mobile banked cylinders. No arguing that hydro is a good practice, but have not established that it is in fact required.
For most of the industrial cylinders this is a non-issue. You use the gas provided, return the empty, gas supplier verifies the hydro is good before refilling. Since each fill sends the cylinder out for transport, DOT standards cover the inspection. Scuba tanks are the same way, they go out the door for transport and fall under DOT guidelines. But non-transported tanks are not under DOT guidelines. OSHA, sure. OSHA says they have to be chained up. But where is the CFR for inspection?
Good practice does not mean that is the requirement. Just because you, your shop. or your school does it, doesn't mean it is required to be done that way. Good practice, yes. But still not seen any evidence that it is actually a requirement of non-transported tanks.