Good points all! This was in fact the Mark VIII, designed specifically for use from the Sealab III habitat. As Luis H points out, the Mark IX was a considerably more compact unit, designed for use from the four-man bell that took divers to and from Sealab. The Mark IX is described in some detail in SEALAB, my new book (as is a similar rebreather called the Mark VI that was used on Sealab I and II) because it figured into a tragic accident and the demise of the Navy's Sealab program.
Like the Mark IX, the Mark VIII pictured here was an umbilical-fed, semi-closed rebreather. It looks a lot bigger than the IX mainly because of those double 90s, which were indeed for bailout, as DA Aquamaster says – they had to be large to buy much time at 600+ feet. That hefty yellow umbilical is split between a gas line (on the left) and an electrical line that plugged into the back to power a heated suit, voice communication and a few other devices - so all in all a pretty different setup from the Conshelf III apparatus that Luis H mentions.
I don’t believe the Mark VIII was ever commercially available – very much a Navy prototype – but if it had been, I'm sure drbill is right that he would have had to supplement his teacher’s salary to buy one, not to mention covering the cost of the helium. . .and some bottom time in Sealab.