Jan... you know how I think, and I tell you this has worked for me quite well. To answer your question- sure... everyone (TSA included) knows what a regulator is. But it begs the question- why bother? I have travelled for many many years and have never had my dive gear lost, stolen or damaged from checked baggage.
Pack it well, put three secure labels on your bag with your routing info, check the bags... get on the plane.
Carry your prescription mask, and if you are an odd size, maybe carry your 3 mil or polar fleece. Your computer and camera, but check the housing. in the unlikely event of baggage delay, even Utila is advanced enough to have great rentals- and the airline is paying.
Carry whatever you will, but after traveling as much as we have, we just don't want the hassle of the weight and volume of hoses and regulators. Our always arrive on the carrousel- and that has been hundreds of times.