Cheap Waterproof DigiCamera $83

http://www.buy.com/retail/product.asp?sku=206481559

Intova IC-500 5.0 MP Waterproof Digital Sports Camera General Features: Black design 5.0 megapixel Waterproof to 130 feet/39 meters 1/2.5-inch CMOS sensor 4x digital zoom 2.5-inch color LCD display 16 MB internal memory SD expansion slot up to 2 GB capacity Built-in flash F3.0 lens 6.47 mm focus length (equivalent to 39 mm on a 35 mm camera) 1/-1000 sec shutter speed Auto, Daylight, Cloudy, Tungsten, Fluorescent white balance Auto, 100, 200 ISO Full function button control Video and Still shot capable JPEG image format Motion JPEG video format USB interface Unit Dimensions: 2 x 3.5 x 0.75-inches (H x W x D, approximate) Regulatory Approvals: FCC CE
 
Features
   4x digital zoom
   Housing waterproof to 125'
   Rugged polycarbonate full function housing
   Full-function button control
   Ultra compact and shock resistant
   Also ideal for taking worry-free pictures in the rain, at the beach or on the ski slopes
   Uses SD(tm) memory up to 2GB
   Uses 2 AAA batteries
   Includes 2 AAA batteries, USB cable and software

  Seem the ISO rating is a little low.  I'd be afraid of any night time shots even with flash.  Other than that, everything else looks fine.  My Optio W30 is still somewhat new to me so I'm not looking for another camera yet.

I noticed that Target sells that same camera for $119.99

http://www.target.com/Intova-Digital-Camera-Waterproof-Case/dp/B000Z8EMS8
For underwater use, it looks like you have to use the included housing.

Martin, are you getting one?
I'm curious if it's any good.

I bought an optio this summer.  I'm sticking with that, just thought i'd pass along the deal. 

i'm not big on housings, and I wouldn't be taking my optio below its rated depth anyway so i don't really need a 120 foot rated housing.