I don't see too much on SB about the cheap thick neoprene drysuits. Can you install a p-valve in them? Is it worth the expense?
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When I saw this question, my immediate thought was, "How would you cope with the fact that the neoprene compresses with depth?" But perhaps, if you can screw the p-valve on hard enough to squeeze the neoprene down, and then be generous with the glue, it might work.