I've been using a Pentax Optio W10 for the last two years and I've been very happy with it. It takes lots of abuse and hasn't failed me yet. I've had it submerged to 4'-5' for several minutes without problems. I also use it as my everyday GP camera. I keep it with me in my backpack everywhere I go. The size, image quality and battery life are the big selling points. Negatives: some halation when shooting with flash in very dark conditions, no lens cover and a waterproof camera should have some sort of rubberized grip. Get the silcone cover if you will be using it in the water. I just coated parts of mine with Marine Goop.
