I find with digital that the lines between digital camera and digital camcorder are really starting to blur. I was looking at this camera a little while ago because it's waterproof to 33'/10m (most underwaters have usually only been good to 10' lately, so this is nice) and it does 720p HD video:
http://www.olympuscanada.com/cpg_sec...p?product=1497
Unfortunately I didn't buy it because it wasn't available at the time I needed something (wanted it for a Hawaii trip) so I ended up getting a Canon D10 (this one:
http://www.canon.ca/inetCA/products?m=gp&pid=793 ). A little less coin, more or less the same feature set, but unfortunately not HD, just regular video.
It should be available now though.
I considered the Sanyo as well that soapy linked to, but decided against it on account that it was more money and only good to 10 feet, which is good for snorkeling but no good for diving.
When I did get to diving when I was there in Hawaii, one of the fellas that I dived with had an underwater casing for his Flip video camera. Unfortunately for whatever reason it did not perform under pressure. We're not sure what happened, maybe the pressure was pushing in one of the buttons and it got stuck or something. The camera worked fine above water but below the water he couldn't even get still pictures. I ended up sending him everything I took with my Canon. I love this camera, it's now my everyday camera - it just happens to be waterproof but it works just as fine outside of water.
