I just bought a Canon S400 and the waterproof case. The case was $175.
Supose to be good to 160 feet. I bought it because from one reason or another I have lost 3 cameras priced up to a Nikon in the saltwater. When I bought the S400 3 months ago I was all excited to finally have a camera that I can use under the saltwater. Now I am afraid the case will leak. Canon , in their fine print state that if water ruins the camera it's warrenty is void.
One thing I am noticing is that I can't see the image on the digital screen because of the glare, so I guess it is just point, and shoot.