If you have a 295, it should be easy to spend less than $50 for a used MK2 in good shape. Those things are so simple that it's almost difficult to find one that's not in good shape; no piston edge to worry about, no HP o-ring on the piston shaft, no turret retainer. Parts are easy to find, too.
I've thought about using an old 2 port MK5 with an updated yoke for a pony reg, but it's just not worth the effort. If I ever get into deco/stage use and needed several I'd consider it.
Plenty of them listed on e-Bay and Leisure Pro, Divers Supply $299 for the new or newer good shape ones. Probably could find one used on e-bay or amazon cheaper. Thanks! One thing that Scubapro makes and makes well is regs.