Dive-aholic:....
What? Nitrox means that you have more oxygen, which in turn means you have less nitrogen. How does that not lessen the effects of Nitrogen Narcosis? Nitrox gives you an equivalent air depth less than the actual depth you're diving. That gives you an equivalent narcosis level to the EAD not the depth you're at. If I'm diving 32% to a depth of 95 feet, my EAD is 77 feet. My narcosis level is also equivalent to what I would experience on air at 77 feet. That's pretty significant.
My understanding is the O2 has similar narcotic effects to Nitrogen in the water.
The EAD is really due to the way that O2 is metabolized and the related reduction in potential bubble formation and tissue loading. My understanding is the only He is proven to reduce narcosis as it removes both O2 and Nitrogen