Yup, the new CPR (just chest compressions) is meant to just keep the blood circulating until the patient can be shocked. There is a significant amount of residual oxygen left in the lungs after exhalation and only electricity is going to get the heart going again (OK, electricity and some specific cardiac Rx too). Studies found that stopping to check for pulses and give rescue breaths just waisted time. Plus, many "lay rescuers" were too squeamish to give proper rescue breaths and were getting confused on what to do. Basically wasting time. I've only had two patients survive (that I know of) death, CPR, ALS, etc, etc. That doesn't mean that I wouldn't start CPR if I came across someone who I thought needed it though. EMS is really changing when it comes to CPR in the field these days. The last couple of unwitnessed arrests I ran, were field pronouncements. In the "old days" both of these patients would have had CPR, advanced airway, IV access with first line Rx, several defib attempts, then we would have loaded and hauled ass to the nearest ED and they still wouldn't have survived.
My favorite rescue breathing barrier device is the Laerdal Pocket Mask with the one-way valve. It's a little on the big side, but they really work when you need them to.