OK OK. To deal with one post at a time
Effattah, CO2 narcosis? You surely mean CO2 build up causing shallow water blackout. Narcosis is normally caused by Nitrogen levels being high, hence using Helium mixes on deep stuff. These days, O2 is also regarded as slightly narcotic.
Jon, You are correct in that pure O2 can get interesting below 6m, as the PPO2 has risen to over 1.6 bar. But, my rebreather runs my PPO2 at two set points, 0.7 for shallow, and 1.3 for depth, and varies the O2% according to depth.
Stoddelle, You CAN breath pure O2 underwater, provided you monitor the following. PPO2 levels (max 1.4 bar for depth, 1.6 bar for decompression), CNS (central nervous system) exposure, and OTU's (Oxygen toxicity units).
All the above adds up to:- Any O2 mix can be used, provided that you monitor PPO2 levels, CNS and OTU's, and times.
More information about the above can be obtained from IANTD, TDI, and these days, even PADI.