ArcticDiver:About the bubble test: You are not checking for absence of bubbles in all cases. I dove with a guy whose rig gave off small bubbles the entire dive. According to him and the shop tech that particular brand/model of reg is supposed to give off bubbles. I don't remember which brand/model it was.
That would be a Sherwood reg. They give a very small stream of bubbles out of the first stage, which in part makes them more robust for dirty and cold conditions. They are however used extensively as rental rigs and as such a lot of people will think their reg (or their buddys) is not working properly...of course bubbles could be coming from another part of the reg which would be a situation which would need to be addressed.
Scubamax