Apparently, during one of the 20 renames of Voit their engineers took a bunch of little gem II regulators, which were a piston first stage identical inside to an Aqualung Aquarius, took the crappy tilt-valve second stage off, added a lever action second stage, and called it a "little gem III" without changing the label. These regulators appear during the 1973-75 Voit/Swimaster/AMF/whatever catalogs. I rebuilt one a number of years ago for someone, and I found another one for a pittance so I bought it. The last one I worked on breathed way better than an aquarius, despite the mechanically identical first stage. It has a tiny second stage on it, so maybe that has something to do with it. I swear though, for an unbalanced piston regulator, it is one of the best breathing regulators that I have used.
Anyone know anything about the history of these short-lived regulators? They look like this: