When I took my DM in the summer of 2008, they were teaching rescue breaths while towing. This was taught by a PADI course director whom I suspect is pretty up on current PADI standards. It's entirely possible that they've since switched this. I.
I seem to be having trouble explaining this. I will try again.
You are supposed to make a decision. One size does not fit all cases.
If help is nearby, you should head for that help without any undo delay. No rescue breaths. No removal of equipment.
If help is not nearby, that tactic will eventually result in you towing a corpse. If help is not nearby, therefore, you provide rescue breaths in the hope that the victim is circulating. It is your only chance, so you take it. That is why you practice it, and that is why it is still being taught.
When PADI changed the Rescue class to this concept, they emphasized the first choice. When they did it, they had an article in the regular magazine (not the UJ) in which a DM acting as a rescue victim wondered why he was being towed without rescue breaths, and he was informed of the new standards. In this case, the rescuer had made the decision to tow directly to shore.
When they did this was also the time that first aiders were stressing what has been mentioned here--rescue breaths without circulation are worthless. I therefore wondered why were were doing it at all. I therefore asked PADI. They gave me the explanation above. I am not making it up. It came directly from PADI headquarters.