normal atmospheric air is about 78% nitrogen and about 21% oxygen.
When we combust fuel like propane, gasoline, diesel, coal, wood, and so on, these contain carbon and hydrogen in differing ratio's
Propane (C3H8) has 3 carbons and 8 hydrogen’s.
When we combust this fuel we need heat, oxygen and fuel (carbon) to burn without any one of these our burner won’t fire.
Incomplete combustion produces (CO) carbon monoxide, lack of air or oxygen, we usually prefer an excess of air or oxygen to complete combustion thus producing CO2 gas.
Also with torches depending on what we are doing we may want a reducing flame or an oxidizing flame these will actually change the chemistry of our metals in the melting process.
Carbon from fuel (propane C3H8) burns the hydrogen does not burn.
In our air 21%oxygen and 78% nitrogen, the oxygen burns the nitrogen does not.
So for propane we have in our combustion C3H8 +5O2 --> 3CO2g + 4H20.
Notice the carbon and oxygen produce CO2 gas.
The Hydrogen and oxygen produce water vapor.
(What about the nitrogen in our air?).
Well it produces NOx gases< industrially or in our vehicles we have ways to deal with these but that is another story.
Nitrogen normally will not give us problems in our propane burners or torches as long as we have the oxygen to burn the carbon .
Medical oxygen is usually given many times mixed with nitrogen, or medical air, or sometime room air around the patient, in the hospital as breathing pure oxygen from what I understand is not healthy and may burn the lungs( I am no doctor and really cannot say my fact here is stated proper).
I really do not know how pure prescription medical oxygen is in the tanks, or how pure the welding oxygen is? For all I know they may come from the same source, and contamination of tanks may be an issue, we sure would not want to breathe air from some welder’s tank no telling where it has been, then again there may be some minor difference.
The way I understand these portable unit oxygen generators is they use a catalyst of some type, I presume they just increase the oxygen content of the air exiting them, probably not pure oxygen, (this would improve combustion and heat in our torch or burner.
Fuel and air (oxygen) need to be mixed in certain proportions for complete combustion (usually some excess air (15%)to get the oxygen content needed) other wise we have incomplete combustion of the carbon (reducing flame) and produce more dangerous gases carbon monoxide.
Some fuels also contain sulfur (diesel, coal) and getting complete combustion and flue stack temperatures higher is important with them again another story.