I realize this is an oldish thread but its the sort of info that always need updating.

Fujufilm just released their Finepix XP20 model as a followup to their wildly successful Finepix XP10. IMO the XP20 is probably the best value in a compact waterproof-shockproof-dustproof camera for anglers on a budget: 5x optical zoom (35mm equivalent of 28-140 mm), pocket-sized, decent battery life (about 200 shots), watertight to 5 m (~16 ft) and shockproof to 1.4 m (~ 5 ft), and it appears to have even better physical construction than the XP10. In Canada, Walmart bundles it with a floating strap for $200 CDN. See http://www.fujifilm.com/products/dig.../finepix_xp20/

For anglers on a mac-and-cheese budget a new option for a waterproof camera might be Kodak's brand new Easyshare Sport C123. It is feature-limited compared to the XP20 (e.g., 5x digital zoom only, no macro setting) but it is waterproof (3 m) and dustproof, and it costs a measly $80 CDN or USD. See http://store.kodak.ca/store/ekconsus...ctID.222433400