Wort Oxygenation and Aeration - Simple...Right?

Wort Oxygenation or aeration is an essential step in the brewing process however its discussion is dominated by age old wisdom and doing the same things the same way just because. What are the advantages and disadvantages of oxygen and air? What is the proper way to measure dissolved oxygen in wort (hint…most brewers are not doing it correctly!). What are the quality considerations for the gas you are using and the end result of the beer you are brewing. Why over oxygenating wort can be just as bad for beer quality as under-oxygenating. Real world data and results shared from multiple breweries in this review.