So it sounds like the consensus is the high pressure regulator that allows my banjo burner to bring 5 gallons to a boil in 20 minutes is also putting out co at rates that exceed most indoor environmental leakage rates. FWIW I classify brewing in a garage with the door open as outdoors for the purpose of ventilation.
In general, I think this is correct. CO is a byproduct of incomplete combustion, whereas in contrast the only byproducts of complete combustion of a pure hydrocarbon are CO2 and water. One thing is for sure, you'll never have complete combustion and will always be making some amount of CO.
I know you didn't ask this, but in my mind what has yet to be answered is what is it that causes the outdoor rated burners to produce CO at a level that's dangerous when compared to indoor burners. Is it simply because the outdoor burners generate a lot of BTUs? I don't think that's the answer.
Many home cook tops, including my own, can pump out as many BTUs as many outdoor burners (note I would need to turn on multiple burners to accomplish this). I'm looking at one on the interwebs right now that has seven 15,000 BTU/hr burners and one 18,500 BTU/hr burner. Commercial versions in restaurants I'm sure can exceed the output of an outdoor burner, probably by several fold when you consider they run many burners simultaneously.
My guess is that it's an efficiency thing. In my industry we deal with fired heaters that are rated in millions of BTU/hour. The project I'm on right now has two heaters rated for about 25 million BTU/hr each, and those are small heaters. The heater design, and especially the design of the burner tips, determines how efficiently the heater burns the fuel (natural gas for my project) and it also determines other things like the quantity of pollutants produced. The less efficient a heater is at burning the fuel the more CO, NOx, SOx, etc., that you're going to produce.
Bottom line, what I'm trying to say is that if you found a high BTU burner with a correspondingly high efficiency, then you might not have any issues with CO. But, you'll never find a situation where CO is not produced.
Hope all this rambling adds something to the discussion.