You will find that 4lb. density foam is going to crush too easily, and then will not have the same buoyancy as on the surface. I have used 8lb. density foam, and it is only usable down to about 40 feet. The higher the density, the greater the crush (pressure) resistance.
Dan
I assume therefore, based upon your actual experience, that all close cell foam is not created equal.
For instance, Core-Cell "A" at 4lb density ( a cubic foot of 4# density foam would weigh approximately 4 pounds) is compression rated at approximately 90 psi. If one atmosphere is equal to 14.7 psi at sea level, then according to how I interpret the spec sheet, Core-Cell "A" at 4# density should not begin to compress (crush under pressure) until beyond a depth of 165 feet has been reached.
(90psi/14.7=6.12 atmospheres.......subtract one atmosphere for surface pressure......5 (atm) times 33 (feet of water depth per atm) equals 165 feet...........
spec sheet may be found here:
http://www3.gurit.com/pdfs/corecell/Corecell_A_Foam.pdf
All that said, which I admit is completely based upon theory* and not real world conditions, if your actual experience suggests that a particular 8# density foam compresses at 40 ft, then I would request knowing which foam in particular you tested so that we can avoid it if possible.
regards,
b
*I have tested bare (no fiberglass or resin) Core-Cell "A" 500, compression rated at 135 psi. It has performed well on my strobe arms, showing no signs at all of compression, down to at least 100'