I bought this camera because I was going to the Carribean and I knew I was going to be doing some snorkeling. I have had a few Canon Powershots and I have always been very happy with them. I always recommend them when I know someone who is looking for a camera. I was not disappointed with this camera. The underwater pictures turned out great (after I changed the setting to underwater).
The only thing that seems different (unusual) about the camera is not having anything to cover the lens. The powershots normally have the lens covered when it is turned off. I'm guessing this is because of it being waterproof. I'm not sure yet how durable it will be. I just purchased the camera in early June 2010.
I would definitely recommend!!!