While i agree with you gear guy the regs that we use are severely outdated. At the time of writing planes flying above 410 was looked upon as going into outerspace. Now 450 is the new standard and the V and X routinely operate above 450. Especially on long legs like the 550 does.
When was the last time a X or a 550 had an explosive decompression? I just looked up for the last 10 years and all the planes that came up as a decompression were airliners and turboprops. Not long haul business jets.
Diesel you can probably speak to this, cause I heard certain aircraft (Gulfstreams in particular) are exempt from the O2 regs because they will auto descend in a loss of cabin pressure situation. Maybe this is something that should be standard on all new aircraft capable of +FL410. In this new era of sky high fuel prices flying at higher altitudes can mean a significant savings especially at the fractional level where there are large fleets involved. Many people I fly with stay at or below 410 simply to avoid putting on the mask. I too think it is an outdated reg but knowing the FAA pigs will be flying (under their own power) before it ever gets changed.
LD, good luck in your job search (back on topic).