Recently, Dave from TechLife sent me this link to Gizmodo, about the Pentax W60 waterproof camera.  The video on the link shows snorkelers swimming with a whale shark off the coast of Maui.  While the video sucks (due to the photographer), it does show how well the Pentax W60 works underwater (rated only down to 13 feet).  While the camera is not recommended for divers, it is perfect for those who snorkel a lot.