Ran out of gas one time, but knew it was going to happen. I was hunting bugs in shallow water (20') and ran the tank down to about 200-250 psi. I was pretty much around the boat and the current and surface was calm. I came up to the boat to get out and one of the guys says he dropped his weight belt just under the boat. I told him I didn't have much air but he said it was right under the boat and he would drop a line so I could clip it and he would haul it up.
Well I go down and there is the weight belt right where he said it was but the line was short about 7' from the bottom. Here I am trying to pick up a full weight belt of about 28 lbs. I have my bc fully inflated and I'm breathing hard to try to "swim" it up enough to grab the line and tie it off. After my third try launching off the bottom, my reg is breathing hard. I know I'm running out of air. I get the line finally and tie it off and I'm sucking whatever is left in the tank. I pretty much had 1/2 a breath left for the way up.
For me, it was good to experience what it is like to run out of gas. For anyone else, try doing it in a safe controlled environment.