[unirdna]

If I'm not mistaken, the s70 comes up very short on video (320x240, 15fps comes to mind). If video is something important to you, that might make your decision easier. True that the S80 "lost" its RAW mode; this might be important to someone who prefers RAW. I never took one photo that wasn't a jpeg when I had my 5050, so that [lack of] feature had no impact on my decision.

The only drawback I've noticed about the S80/housing combo [so far] is the inability to change video size modes while the camera is in the housing. You can still switch photo modes and get to all the menus. But, the toggle dial to switch video modes does not have a corresponding wheel on the housing.