Hi. Probably not the answer you were looking for, but I think it really depends on you. Some things to consider:
- Video format. DV offers good quality at affordable prices. HDV is new and the options are few and more expensive right now, but the video quality is very high. Also, HDV editing options are rather limited and require powerful computers right now, but this should be improving.
- Size. If you travel with this stuff, you will soon begin to appreciate a compact video camera and compact underwater housing.
- Control. Personally, I think it's nice to have the option of manual control. Full auto is a good place to start, but as you gain more experience you may feel limited by a camera that doesn't offer the controls you want.
- Availability. Popular models are easier to get and tend to have more accessories available (including housings).
- "Sacrificability". I think it is good to keep in mind that you may eventually end up flooding your video camera if you take it underwater. Are you willing to do this? Is it possible to get a replacement easily?
Personally, I use a Sony TRV900 in a Gates housing underwater and would not hesitate to recommend one to someone else looking to start.
These camcorders were discontinued in 2002, but IMO they will still hold their own against most DV video cameras today.
- They were/are extremely popular and can still be found used but in good working condition.
- Accessories are abundant.
- There are several TRV900-specific housings, and they can be used in a variety of "generic" housings.
- 3CCDs offer very good color and good low light performance.
- Easy access to manual controls including white balance.
- Relatively compact and solidly built.
Disadvantages are that they still cost up to $900 used... They were about $2400 new and have held their value quite well for a video camera. And because they were discontinued in 2002, any unit you get today will be at least about 4 years old so you should check it out before using it extensively.
If you want to go the HDV route, then the Sony HC1 or upcoming HC3 might be the way to go. The FX1 is awesome, but the housings are equally awesome in terms of bulk and weight.
I now have an HC1 and wouldn't mind using it underwater if I had a housing for it... but the problems I see are:
- Now discontinued after just a little more than a year, so availability and accessories (including housings) may be rather limited.
- Very poor low light performance with unacceptable noise levels, IMO.
- Bottom loading tape makes changing them a pain for housing/tripod users.
- Manual white balance is buried in the touchscreen menu system.
- Build quality is not as solid as the TRV900. Granted, this doesn't really affect performance, but mine is noticably "creaky" in the grip area and it's a minor annoyance.
- Not cheap.
All that said, the HC1 takes very nice video in good light. It's now my main top side camera.