I've never claimed older regs will breathe better. I'm just stating that out of the box, from the shop I've bought it, the legend was set alot worse than I could set the mk5 with the 156 myself with just a small homemade hobby test bench.
It could be that the store did not adjust it properly before sale was made.
New regulators are sent out from the manufacturer within specs meaning the first stages are within certain IP/MP and the second stages are set at the preliminary settings. They are not "tuned" and many stores are unaware of this, especially if they don't have an available technician.
In order to make an accurate comparison, have the Legend service since the Mk5/156 have been serviced. This way the regs are on equal playing ground. Or, take a Mk5/156 and a Legend right out the box and compare them. The later is not an option because one will not be able to find a new out of the box Mk5/156.
About the cold water department, purely speaking about the second stage:
Except the abyss 22 or xstream I don't think there are many second stages LESS prone to freezing than the 109's ? Or is there something specific I'm missing here which should make the 109/156 more prone to freeflowing compared to modern cold water regs.
I've heard many such claims. Up here I've regularly dive with a Mk25EVO/G260 year around. Not once have I had an issue. I've even used it for ice diving. Now that I use a FFM for PSD or ice diving I use a Mk17EVO.
Last winter I took the university scientific divers out for training. Water temp was 35 degrees and the air temp was a little bit warmer. The dive ended early due to free flow which started at 100 feet. Those that didn't have a problem remained in the water. I ascended with the free flowers. When we got to shore there were several people from the Great Lakes area watching us. They starting talking to us and found out about the free flow. Their first comment was never to use Scubapro regs in cold water because they fail easily. They recommend another brand, which I will not specify. I simply chuckled and told them the brand they recommended was the one that failed and those with Scubapro regs were still in the water. My Mk25/G260 worked just fine. For that dive I would not have taken my Mk5/156 Adjustable.
The scientific group travels to Antarctica to study sea spiders. The two people who run the diving operations there stated the only reg people would be allowed to use were their Sherwood regs, NO OTHERS. They were very clear with this. They stated that all other regs had been tested by them, right out the box, and free flowed. .
A couple of years ago one of the technicians, whom I learned a great deal from, took a group of divers to a mountain lake to test numerous types of regs of as many brands as possible, including Poseidon. Each of the regs were tested and all of them free flowed. The hardest to get to free flow was the Delta IV, which the tech disliked the most. The results were a surprise. The lesson learned is if you know what you are doing, or have no idea what your doing, you can make a reg free flow in cold water.
For cold water diving I like the Mk25 or Mk17 / G260 or the X-Stream, especially when it comes to performance and durability in cold waters. The other instructor here loves his Apeks regs which I think are quite decent.
Honestly if there was a 156 with a twist on/off top, with a spider exhaust valve brazed at 34 mm, it would be the perfect second stage or am I missing something greatly here?
(so basically a brass g250).
While the 156 is a nice second stage and breathes well, I much prefer the G260 which has a ventura and a micro-adjust. The 156 has neither. What Scubapro has done is taken the lessons learned from the 156, G250, S600 and created the G260 and A700; the latter is a metal second stage with a micro-adjust and ventura.
In short, I wouldn't say you are "missing" anything. I do think the claims are a bit outlandish. I eventually sold my Mk5/Adjustable, Mk20/G250/G200B, and Mk25/G250HP because it lacked the performance and reliability for cold water diving. In some regards I miss having the regs. They were good breathers and in very good condition. It was nicer to get a nice price for them, leaving no regrets.