Best non-pricey under-water digicam (1 Viewer)

Hi,
I would like some info on what would be a best buy Digital camera (or even video, as long as it is digital) for use under water; currently I snorkel, later probably am going to add diving.

I currently have a CP4500 which I plan to continue using for my bird-photos, but this camera probably is not all that great for the purpose, and the housing I have seen on the web was quite expensive. I have seen some Reefmaster cameras at Steve’s Digicams, but they also wanted to mention a Canon A-series with a canon UW body to clamp around. Are there other options? Which would be the better choice?

I live in the Caribbean and therefore would use the equipment all year.

Thanks
Niels

You might want to research the Ricoh 400G. There isn't too much info on it but based on the picture I saw I'm guesing that it's fully waterproof.

There are Nikon Coolpix 4300's complete with 40m underwater housings on ebay at around £260. I haven't tried the housings but the 4300 is user friendly without being over basic.