If there is no chance of adding extra lens/port in the near future, I think dSLR with just one lens will be too limited as you are pretty much stuck with wide angle only , macro only or regular fish portrait with a bit of macro. I think you end up frustrating about limitation of just having one lens so if this is the case the Oly C5050 setup may be preferable for its versatility.
Personally I am not sure if the extra $1000 for the Tetra housing over the Ikelite is worthwhile. Basically you get ROC which is nice but not exactly essential and aluminium housing. I just happen to prefer clear housing as it is easier to inspect the seal and hopefully see a slow leak before it does any damage (I am a bit paranoid that way). I am still waiting to hear from ikelite whether they will make an upgrade available to C5050 housing for the hard wire TTL connection like they do in C5060. If the option is available, I think Ikelite housing with hardwire TTL housing and 2 DS 125 strobe (or one) would be more useful than ROC with Sea and Sea strobes (just my own preference though, I guess it is not difficult to figure out that I like Ikelite stuffs and use Ikelite housing and strobe with my C5050).
Also you may need to consider that C5050 is a discontinued model so I don't know what the supply of the camera will be like in 1-2 years. Should your camera flood in the future, you may end up having to replace both camera and housing as the Tetra (or other housings) are not compatible with other models.
Personally I am not sure if the extra $1000 for the Tetra housing over the Ikelite is worthwhile. Basically you get ROC which is nice but not exactly essential and aluminium housing. I just happen to prefer clear housing as it is easier to inspect the seal and hopefully see a slow leak before it does any damage (I am a bit paranoid that way). I am still waiting to hear from ikelite whether they will make an upgrade available to C5050 housing for the hard wire TTL connection like they do in C5060. If the option is available, I think Ikelite housing with hardwire TTL housing and 2 DS 125 strobe (or one) would be more useful than ROC with Sea and Sea strobes (just my own preference though, I guess it is not difficult to figure out that I like Ikelite stuffs and use Ikelite housing and strobe with my C5050).
Also you may need to consider that C5050 is a discontinued model so I don't know what the supply of the camera will be like in 1-2 years. Should your camera flood in the future, you may end up having to replace both camera and housing as the Tetra (or other housings) are not compatible with other models.
