More on dive fatalities and weight belt dropping...
According to DAN's annual reports, cardiac events average over 40% of fatalities annually. DAN and PADI did a joint analysis of fatalities a couple of years ago and determined that the number one training-related cause of fatalities was the sequence of drowning preceded by air embolism preceded by rapid, panicked ascent preceded by out of air emergency. In those cases, the victims succumbed at or near the surface. It should be noted that in those cases, the divers generally do reach the surface. I most cases, the bodies are found floating on the surface. Prompted by that study, PADI made a number of changes to its OW instruction, including more focus on the buddy system, more emphasis on gas management, and dropping weights while at the surface so that it is easier to stay there once the surface is reached.
The annual DAN studies (which have not been published for a while, BTW), include descriptions of the incidents. In many cases, they have little to no information. In some cases, the details of the incident are known, but no autopsy was performed or they do not know the results of the autopsy, so they cannot be sure why a diver died. You see a lot of descriptions of a diver suddenly surfacing in distress and then dying, for example, with no indication of why there was distress. I happened to have the 2008 report handy, and I went through the descriptions. There were 86 described fatalities for that year, and I found 10 in which it could be argued that dropping the weight belt at depth might have helped. In several of the cases, the divers were out of air. We do not know, though, what preceded that. In several of those cases, the divers were extremely experienced. There were other cases in which so little was known that no conclusions could be reached.
It is dangerous to make assumptions about these cases.
A few posts ago someone referenced the death of a ScubaBoard moderator, a friend of mine. I know a lot about the case, and I will repeat what has been repeated publicly so far as an example. The divers finished a dive at a very benign site. The diver reported that she still had 50 bar of air (roughly 750 PSI). The group was now headed for shore, and she elected to go in under water rather than on the surface. I have been to the site, and I would estimate that the difficulty of that swim was roughly akin to going from the deep end of a swimming pool to the shallow end in all ways--depth, distance, and surface conditions. When others reached the shore and realized she had not made it in, they began a search and found her very quickly. She was on the bottom, roughly where she had descended, with no air. She was an experienced instructor with the skills and knowledge to drop weights in an emergency. Everyone who knows the case is completely baffled.