You need to do more than "bleed out the o2 with a
bit of co2." Commercial breweries shoot for less than 0.2 ppm or 200 ppb (parts per billion) TPO (Total Packaged Oxygen) to minimize staling from oxidation (ref: page 21 of
http://www.craftbrewersconference.com/wp-content/uploads/2015_presentations/F1540_Darron_Welch.pdf.) The longer you age, the more important controlling TPO is, unless you are looking for some oxidation flavors like sherry notes (which might be ok in a barley wine, I'm not an expert on those.)
TPO is calculated as:
(Headspace Vol * Headspace O2 + Beer Vol * Beer O2) / Package Vol
Package Vol = Beer Vol + Headspace Vol
If you fill the keg by siphoning thru the open lid, then it takes multiple pressurize and vent cycles to get the O2 down to ppm or ppb levels. The chart and table below show how much O2 is left in ppm for different numbers of purge cycles at different pressures.
View attachment 329471
View attachment 329472
You can get lower O2 levels with less CO2 usage by filling the keg
completely with water or StarSan, pushing the liquid out with CO2, and then filling the keg thru the liquid out post (need to open the PRV to allow filling.)
Each brewer needs to decide for them self how OCD they want to be about minimizing TPO.
Brew on