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Yeah the Alfa 8 is bright blue but it is also the absolute lowest end reg on the market and lack several features found in other Oceanics such as DVT (great feature which protects you 1st stage) and adjustable flow.Isn't Oceanic that has the bright blue reg sets?
Price and safety have nothing to do with each other. In fact, the simple, flow by unbalanced piston design, like the SP MK2, is so reliable that failure is almost unheard of. When you buy an expensive reg, you're paying for extra performance, and in some cases, features that do very little to improve your diving experience.
The best thing to do would be to try out a few if you can, and get something you're comfortable with. It's important to buy a reg that you can get serviced easily in a variety of locations, like where you're likely to be diving.
There are lots of choices, and it can be pretty confusing. The good news is that pretty much all regs that are made by respected manufacturers will do the job fine in recreational diving.