Dove my pony for the first time in the pool today. Lower bungee is a bit long and needs to be shortened. Put it on about 15 minutes into 90 minute pool session, and I kept it on for the entire time. Clipped it on in the water with buddy's help. Didn't feel lopsided at all or have to adjust my weighting. It's just a matter of fine-tuning buoyancy, which I'm working on anyway. I barely felt it was there.
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Marie, if I may I have some suggestions... IIRC, you're not doing any penetration overhead diving, right? I would really consider the streamlined open water setup. You mentioned you bought a necklace for your octo but doing that the way you currently have your rig configured could lead to some confusion. When you necklace your octo you donate your primary second stage. If you use that yellow hose on your necklaced octo then you're creating confusion to an OOG diver. Nothing wrong with a yellow hose, but it then should be on your primary second stage. Notice in the picture below that the primary has the yellow reg cover.
I also noticed in your picture your hoses are looking like... well... an octopus. If you see the pic below you'll notice how everything is nice and tight. In this setup your octo would be on a short ~22" hose either over or under your right shoulder and then your primary would be under your right shoulder on a 40" hose. For open water gas sharing 40" is more than adequate especially if your slinging that pony which you could simply hand off to the OOG diver. You'll also notice in this picture that the SPG is on a lowered left shoulder D ring. I can't really tell where yours is clipped to. It looks like that is where you have it. But, just for the sake of the conversation I will point out a simple glance down and you can see your back gas SPG. Putting it there eliminates a little difficulty when trying to unclip it from your left waist D ring because you can inadvertently unclip your pony. Again, looks like you've got that rigged up right other than the pony hanging low.
I think you would find this setup to be very nice. I've tried a number of configurations and really like it this way. Not to mention, if you start diving doubles you will basically be in a very similar setup except you would replace the 40" primary hose with a 7' hose.
As for the pony. I agree that the hose looks too short. I would go with a minimum 40" hose. We were doing pool sessions today with doubles and slung 40's and I'll have to snap a picture of how ours are rigged. Basically, they are setup to protect both the first and second stage from contact with the environment. We make a little rubber band that goes from the tank neck and the second stage exhaust. It works very well to keep everything nice and secure and the reg pops right out when you need to deploy it. I'll remember to get a picture for you tomorrow if you are interested.
Anyway, just a couple observations. Hope it helps. And BTW, get that hair our of your mask skirt.