Yeah definitely possible. Dived a single first and single second for 20 years. Non isolating twin bar. Valve on one side and a valve in the middle. Your using both tanks irrespective of where you mount the reg.
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If you completely fill all the ports on a junk reg and put it on the left post of your doubles as a giant plug...You mean the HP port plug right?
Never leave a valve without a reg on it.