Definitely read my article that DRG linked to. Some new cameras have been announced since I last updated it, though. There's only one camera in that batch that I think does worthy video - that's the Panasonic Lumix TS1. It can do 720p in the AVCHD Lite format. Panasonic just announced an updated version, the Lumix TS2, which has some upgraded specs but is more or less the same camera. Olympus also announced a new waterproof camera, the Stylus Tough-3000, that can capture 720p HD video. There's a tradeshow coming up in a month so it's likely more cameras will be announced. I'm sort of partial to the Olympus waterproof cameras since I've used them the most and they've worked well for me. But I think Panasonic makes great cameras, too.