I chose the Canon S70 for UW, and as a small carry around camera.
You don't bother to really say WHAT your goal with the camera is? If you just want take and post images online, than a lower mpix model (3.3mpix) will work well.
If you plan on making good 8x10's and may want the capability to go larger, than you will want to look at a 5mpix+ model.
Optics make a BIG difference as does focus capabilities and speed (how fast can it focus and shoot). RAW has some big advantages in Digital as well. The S70 and Oly 5060/8080 also go wide (28mm/27mm). IMO as these camera's are not really fast enough to capture action, having a big zoom is less important vs. WA capabilities.
As others have pointed out, you can NOT just plan on the expense of the camera/housing alone. An extra battery (look online, off brands work well, often have more power and are cheap), Media, a case, extra o-rings, etc. are all going to cost.
I paid about $400 including shipping for the S70, and about $150 for the housing. I did a LOT of research, and it boiled down to the S70, and the Oly 8080. My #1 choice was really the Oly 8080, but I really wanted a pocket sized camera for land use, and the 8080 was just too close in size to my DSLR's. I really wanted a camera that was a non-event to carry around.
The S70 also can fire any UW slaved strobe on the market as the pre-flash can be cancelled. The Oly's are larger, but they have the advantage of flash TTL.
The A95 is a reasonable solution, and love that tiny size. The optics are NOT as good as the OLY or the Canon S70, nor is it very wide (36mm I think). Nikon also makes some interesting choices mainly the 5000 lines (5600/5200).
You are right it's not a simple question. Also many (most?) pro's don't use PnS's and the only reason I ever came up to speed was I just happened to be in the market and researching them.
Good Luck,
jp_bowers:
Simple question...... but I'm sure..... Not a simple question to answer.
I'm getting ready to buy my first point & shoot (digital) with the idea that it must, of course, do both land and UW pictures as well as I can afford.
The budget: Somewhere around $500.00 for both the housing and the camera.
I have been giving serious consideration to the Canon A95 ....... but have just decided to ask you pros your opinions about which ones to look at.
Thanks for your help!