Even though the DXG-308 is a bit dated, it can be found on special at some stores such as CompUSA for under $75 with the underwater housing. I've had this since just before Christmas 2005 and am surprised at how well some photos come out. There are a fair number of shots that the exposure control COULD help fix, but who takes time to with a fixed focal length digicam.
It is a "snapshot" camera for underwater use, so don't expect what features like the Pentax Optio WP or Olympus Stylus 720SW. But for a second camera, or one you can hand to the kids at the beach - in fact hand to the kids to take into the surf, it is a very usable little digicam. Especially so in bright, outdoor lighting conditions.
Down sides: action shots are NOT this camera's forte, there is both an annoying delay between hitting the "shutter" button and actual exposure. Also sometimes a long delay between shots even with the flash off. If you do time it right, often the subject is a bit distorted if it is moving fast or in low light.
Happy water shots! Cheers de 7tronics