I bought an SB-105 via EBay a few months ago but had to wait (and save) to get the C7070/PT-027 combo. I also bought the bulkhead conversion kit in anticipation of getting rest.
Well seems I was lucky. After looking around and saving hard I was ready to buy. Ouch bad news C-7070 no longer available, Olympus stopped production.....panic
Well as luck will have it, I managed to pick one up for the price I was willing to pay just in time.
Now back to the subject.
Made the necessary bulkhead conversion (for the SB-105) and took it down 25mtrs (without camera) for a test..... 1 drop of water showed inside the casing. At the surface cleaned inside, checked O-rings and went down again with camera (8mtrs.). Again 1/2 drops of water and started misting up inside (not a good sign). Broke off dive just in case.
While on the dive I did manage to get 1 or 2 shots in (not the greatest) for a first time try with new equipment. I should mention I also have a C5050/PT-015 set which I've been happly using for about 2 years now.
Still after playing around in the short time I had, the Camera and SB-105 worked as they should. After reseting the camera to Slave flash mode the flash worked in Auto mode and did what it should do.
Now all I have to do is work out where the leak is...there are so many O-rings and the bulkhead conversion, makes me wonder where to start. Still back to basics... re-assemble bulkhead then re-check standard O-rings and test again.
This is abit long for a simple answer, but I thought it worth sharing my experiences so far. The bulkhead conversion DOES work, but have to be EXTRA careful with the O-rings.
Regards