well ... after having taught a few digital underwater classes last year, I must report that the DX1200 did not meet the expectations. Its worst score goes to focusing skills, and ergonomics, and MACRO. Best score goes to the movie section which, by last year standard was very nice.
ON the other hand the Dx1g and Dx2g offer amazing ergonomics, fast focus, great macro capability and the camera (the Ricoh GX100) after 2 years is still my favourite compact for topside shooting!! After 2 years there are not much better choices in the market which is amazing given the improvements in camera technology.
There are many more choices (fuji, Canon now have some external lenses capabilities not available last year) so I think the days of the sea and sea DX combo are going to be over at the end of this year.
I just decided to move into the Olympus M4/3 for my personal sake and I will still plan a few more photo courses with the DX1200 for the 2010 summer season. Thanks to the wide angle lens I had bought it still is usable for course work.
It seems people and manufacturers sometimes go after specs but underwater the ergonomics factor is just too important. That alone made the DX1G a winner for 2 years...