Flip with superior controls but not as good features and JVC with better features but not as good controls...has anyone found out about the JVC's lens size - that may be a deciding factor...
JVC Picsio GC-FM1 Camcorder Review - JVC Flash Memory
"Lab tested wide angle: 34 degrees." I have no idea how that translates to 35mm equivalent focal length. But the same site tested the Flip at a wider 42 degrees, and in my tests, that equaled about 45mm focal length.
One site said the Creative Labs Vado had a wider angle lens than the Flip/Kodak/JVC, but I can't tell by how much.
Also, the site claims the JVC has "horrible 720p motion" - which is a bit of a bummer since I imagine most people shooting in HD will stay in 720p since 1080p takes up a lot more space and the jump in quality isn't that dramatic, especially if it's all lost when uploaded to vimeo/youtube.
If you're looking for wide angle shooting (and unless you're shooting mainly close-up macro, you probably are), the limited visibility and close distances typically kept by dive buddies may really make these flash-based camcorders more of a second-tier option. Here's what you get:
Flip UltraHD: $170
Ikelite housing: $260
Ikelite port adapter: $35
W-20 or UWL-100: $280
Total: $745
This gets you a 720p shooter with a fixed 21mm lens at a fast f/2.4 aperture. No manual WB, no optical zoom, no image quality settings, no still photography, no flash. Compare this to:
Digicam w/ 28mm lens: $250
Ikelite housing: $260
8GB flash card: $20
Total: $520
This gets you a 720p shooter with a 28-120mm optical zoom lens with perhaps f/2.8-3.5 wide, image stabilization, manual WB, 8-12MP still photos, etc. And over $200 left to apply towards a video light.
Personally, I'm still quite happy with the Flip, partially cause I found a killer deal on a used wide angle lens. But if I was doing everything over, I'd probably go with a Canon Powershot or something similar.
Just my $0.02.