This was a really good question and the responses have been very interesting.
A downstream valve is designed to, in the event of a freeflow, fail open and thus never cutting you off from your air source.
SB has many, many members with advanced knowledge and
alot of experience, but in the grand scheme of things, i.e. compared to the total number of members of SB, they are the exception and not the rule.
In having said this, for what it is worth...probably not much to some of you

...I have to go with the don't turn off the valve camp. One can easily breathe off of a free flowing reg. That is what is taught in most classes...Right or wrong, that is the reality of it. It may very well be ideal to do something different...feathering, valve off...whatever. but it simply isn't the way things are taught in most open water classes. And speaking of reality...
How many recreational divers carry side gas String!!!! Good gracious!!!
IMHO one cannot look at the ideal in these cases. Until instructors incorporate...consistently so...these other methods, a diver is going to do what they are taught...breathe off of the freeflowing regulator and head to the surface. Sharing air is an alternative but as someone pointed out, you may be left with 2 divers OOA. Breathe off of the free flowing reg then share air if you run out.
Generally the average recreational diver is going to be within their NDL if this were to happen, so they can breathe off of the free flow and do a 60 ft/min ascent and generally get to the surface without injury. That is a pretty good clip for an ascent rate, so they will most likely be able to get to the surface pretty easily before running OOA. If they don't have enough air, then they stayed down longer than they should have....Bad diver...Without exception, every diver needs to have enough reserve in order to deal with emergency situations...
If however, whatever method a diver uses in a freeflow situation, he or she doesn't handle it as they should then they are a danger to themselves and possibly to others...Time to get out of the water...