If that o-ring is missing, the 1st stage would never lock up. It is essential.
Hmm... in that case, I may have missed it in the reg. I looked for it but didn't find it. As it wasn't in the service kit either, I didn't verify 100% and left it at that.
I did replace the HP seat which is easy to do by unscrewing the HP retainer in the MK15. Now, the 1st stage IP, when the 2nd stage locks up after purging or breathing, immediately reaches 120 PSI and stays there. No creeping up to 130. One explanation is that the contact point between the plastic HP seat and the orifice of the piston stem left a tiny gap which allowed air to flow from the HP chamber to the LP chamber until the increasing pressure in the latter applied sufficient force to close the gap. Just speculation though.
I've started reading the later chapters of the two reg books (Harlow's first as it's a bit more practically/hands-on oriented) to get a better understanding of what's going on on the performance front. Since the mk15 is not environmentally sealed and I'm not gonna use it in colder waters, I'll have to find a way to increase the IP from 120 to 135 or thereabouts. The MK17 has an IP of 140 so will have to lower it a bit to reduce the likelihood of free flow.