Broke down yesterday and ordered the Nikon AW100. I'll let you know how it is when it gets here.
To be perfectly honest, I probably don't need an underwater camera. But so often, I've gotten caught out in a rainstorm and end up having to scramble to cover my camera while I personally get soaked, that I thought it would be nice for a change to not care so much if the camera gets wet while I stay a bit dryer. And the shock resistance is kind of nice since I'm always banging things about.
That's my story and I'm sticking to it!
Tom (... irritated with Canon!)