The procedure has changed over time. So some of the posts here have the older version of the information.
The newest procedure calls for shutting down the right post first. If there is still a leak, then shut down the isolator. Of course, one is to signal the buddy as early into the process as possible.
It used to be advocated to isolate and breathe down the leaking side until no gas remained, thus conserving the most gas for exit/surfacing. However, the newer determination is that doing so will only postpone what will later turn into an out of gas situation. With the added pressure of the leaking situation and the need to exit and surface, calculating for Murphy's Law, the out of gas situation will occur at the worst time during the exit, where there is higher likelihood of this turning into an even more serious situation.
So the new procedure is to switch to the backup regulator and shut down the right post. If the leak continues, shut down the isolator. Signal the buddy as early as possible.