In general, a Scuba tank is easiest to handle in the water if it's pretty close to neutrally buoyant or a few pounds negative. The higher the pressure, the thicker the walls and the less water displaced per pound of tank, therefore the more negatively buoyant the tank. LP steels have [in my opinion] excellent buoyancy characteristics.
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An easy visual on the strength issue is to stand a steel 72 and an aluminum 80 side by side - the aluminum 80 is visibly larger, but the steel 72 has a larger interior volume (that is, when both tanks are filled to the same pressure, the 72 has more gas than the 80 in it)... the difference is in the thickness of the metal.
Rick