I just recently bought a Fuji E900 and I love it. Haven't taken it underwater as yet, the housing has been ordered from ikelite. I currently use a Fuji S2 pro in a sea and sea housing but wanted something lighter for shore dives. If you look at user reports on the above cameras, the Oly SP310, SP350 and SP500 along with the Nikon L1 got pretty poor user reviews. The only other compact I considered was the Canon 620, but the 9 MP of the Fuji really makes a difference and it is fast. However, if you shoot RAW, several people complained that you had to buy a $200 software upgrade to make full use of RAW in the Fuji E900.