So basically the idea is if bubbles start one closes the right post if they still go shutdown the isolator to make sure we have at least half reserve, then open the right, switch to primary and shutdown the left if bubbles stop, open the isolator, if they do not just leave the isolator closed. Is that a correct understanding ?
The drill is NOT a failure management sequence. Its just to get you familar with the valves, what goes with what and to be able to manipulate them.
When a post "fails" for real you can generally tell which one it is.
Shut the offending post down
Listen
No bubbles = call buddy
Bubbles = shut isolator then call buddy
That is all your can do. Do not go switching back and forth between right and left post trying to figure to which one is still bubbling, cause while it may be the other reg, it may also be the tank neck, burst disks or the manifold itself which is leaking. All of these failures require buddy intervention to even figure out what's wrong.
Your GUE-f, Intro to tech, cavern, or other technical (or cave) instructor will go over valve drills and failures with you and the agency specific nuances of "their way".