That is exactly what we did in our Rescue Class. The scenario was an entangled unconscious diver rescue. The instructor intentionally wrapped the cord under and around the valve assembly - the idea being to cut it away quickly in order to get the diver to the surface as fast as possible. It was good training AND I have actually been involved in a real life entanglement where the calm and need to think through the problem aided in assisting that diver. Of course, during such training - we had three safety divers at the ready.