Good stories, and good advice. How about a new "department" on scubaboard for lost and found. A diver can post what they lost and when and about where, and if another diver comes upon it and is willing to be a good person, they can check the department for a contact to arrange for the return (at the owners expense, of course). In this regard, see Bleeb's post on the camera reunited with its owner here in the basic scuba discussions! I have found the following items that I have found over the years: Sea and Sea wide angle lens (off Maui); a pair (really!) of yellow full foot fins, again off Maui, two masks with snorkels attached, both off Akumal Mexico, and a ton of stuff at the local reservoir (10 feet of viz on a good day), including 11 weight belts with lead, 2 masks, 7 snorkels, one knife, and three weight pockets with lead. I have lost a macro lens for an old film camera, but that is it. Not only safety, but good manners should limit your search- kind of like in golf. Look for the item for a set period- three to five minutes maybe, if air and ndl's permit, and if not found, play on. But no piece of equipment or set of equipment is worth endangering a life, let alone losing a life.
DivemasterDennis