Fuji FinePix F60fd

A great sensor makes this P&S tops in color quality and relatively low noise considering the resolution.
Size & shape make for ease of handling unless you have large hands.
Althought a P&S this camera lends itself and is better suited to the advanced shutterbug who understands and makes frequent use of it's advanced features and settings.
When used in this way it can take pictures on par with advanced P&S cameras twice it's price.
If true P&S operation is what you want a model with less features will suit you better.
The Ikelite housing and available accessories make it a best bang for the buck.
No RAW mode so I gave it 4 of 5 but at 12mp with the quality output of this compact P&S it really doesn't need it.