Trace, this is a great topic. In the "real" cave and wreck" realm this is probably not an issue as gas management is second nature and part ot the plan. Though it is possible that one diver may have a gas loss, there should be adequate gas for the second based on gas management.
In the real world, too many divers go where they shouldn't, even if the overhead is just depth. What I mean here is too deep with too little gas (single 80) and then they run short or out of gas. If two are there and diving the same way there is a good possiblity of two victims or a double fatality.
Recreational diving training should change their minimum requirements to teach true gas management to everyone, especially new divers. That is the big issue that gets divers hurt and killed every year, especially rig diving spear fishers. Being at 100 feet and seeing you have 800 psi is unacceptable. New divers need to be taught to monitor, and manage, their gas. Knowing that if that same diver makes a safe ascent to 20 feet and then stops, the diver will probably have 700 psi. The diver can make a really long stop instead of bolting to the surface with the same 700 psi due to panic.
To answer your question, I am going home alive. If the person I am diving with were to completely run out of gas and if somehow I also had a short supply (ain't gonna happen based on the way I dive, short of entrapment) I would have to leave after trying everything I can to rescue my buddy. I would have to live with that decision, but I would learn to live with it. In reality this is a dangerous sport and divers need to understand that it can be fatal or life changing if they are not properly prepared.