Readers of this blog know I lost use of my beloved Canon G1 camera when it got dipped in the Pacific Ocean. (At the time, I was breaking my leg.)
You can get bulkly plastic enclosures to make cameras waterproof -- for US$200 or so. But there is a better way: make the camera waterproof in the first place, like your basic Timex watch.
Pentax's new OptioWP digital camera is certified as JIS Class 8, which means it can go up to 3 feet underwater for up to 30 minutes. Perhaps water-proofing will become the next standard feature in cameras. I sure would like that!
Other specs for this new camera: 5mp, 3x optical zoom, 2" LCD, and 0.6-second startup. US$400.