Thanks for the info.
I will most likely get the Olympus C-5050, and if I feel that using a manual focus SLR & manual strobe is too much of a hassle, I just might get a housing for the 5050.
It looks like 99.9% of the online photoshops are based in NYC, which is where I am, so I probably have to pay tax for it. Maybe I could show up at the shop and work out some deal with them (at least pay no shipping, but the last time I went to these shops (for electronics,) there is all these "that is not what I said over the phone", "that is not the price", "not in stock" excuses.)
Under pricescan, the 5050 seems to be one of the few models that is continuing to drop in price, defying the xmas price increase trend of other models. Maybe it is very new, and hopefully it will drop more in the next few weeks.