Daryl, the original question (holding one's nose for an entire dive) was a hypothetical. An intellectual exercise. A question for discussion, not necessarily for application.
It arose because I'm the kind of guy who thinks about dive contingencies a lot, how I would handle them, and what my limitations would be in each situation. And I also know that what people say they would do in a certain situation, and their actual response when faced with the situation, can be VERY different.
It's easy for someone to say "anyone who can't handle a leaky mask shouldn't have a C card", but I guarantee you that there are a significant number of divers out there (maybe even some of us...) who have not practiced their response to a suddenly leaky mask since they got certified. And I guarantee that some of those divers would panic and bolt if it actually happened.
When I got my certification, I had an incident while doing my first mask clearing where I got a slug of water up my nose, and I freaked. Luckily I was in a shallow pool. But since then I've practiced and practiced in my swimming pool so that it's no longer an issue. I had to get my mind to accept that you can be underwater, with your nose exposed, and your brain automatically ensures that you don't breathe thru your nose and suck in a slug of water. But it's not a natural instinct. In fact it's counter-instinctive. So for a lot of people, when you see the water level in your mask coming up to your eyes, it's pretty easy to instinctively assume that the automatic valving in your throat won't work this one time, and your next breath will be thru your nose.
So I was thinking that if I plan beforehand, just in case, to have an immediate response to the situation which would give me some time to calm down if I was to freak, then that would be a good thing. Can't hurt, and possibly could help a lot. Dive safety is all about planning and being prepared for stuff that will probably never happen. In my view, just having considered the contingency and developing a plan to address it goes a very long way towards preventing a freak.
So I have added this to my long list of "if X happens, immediately do Y" scuba diving contingencies. And the logical extension of this line of reasoning is to figure out the limitations of this procedure. Hence my the intellectual exercise of wondering how long you could keep it up.
After all, a man has got to know his limitations.