The Pentax Optio 5i (5 mega pixels) is worth a look. It has just been superceeded by a new model with a larger TFT screen so it should be available at discount prices. The optional housing is rated to 40 metres. With a 1 gig SD card I have over 300 stills available at highest quality and resolution or 80 mins of video. It also sports an underwater mode for stills and video. Sea & Sea supply add-on macro and wide angle lenses. Hope this helps.
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