The only valid time I can see is if I am sure I am going to pass out, want to go the surface and I have no buddy to assist me, otherwise I can see no time it is a good idea but plenty of times its a very bad idea. If you are weighted properly you need almost every bit of weight you have to stay down, dropping your weights with a thick wetsuit or drysuit is a sure fire way to start an uncontrollable ride to the surface. Ditching them on the surface may at times be a good idea but at depth, IMO never. Its also never a good idea to drop the weights of an unconscious diver at depth, you do and its unlikely you can control both your and his buoyancy, making a safe controlled accent for both of you impossible. Either both of you are going to rocket to the surface or you will have to release them. My weight belt stays on at depth.