For what it’s worth…
If you are considering entering or upgrading the underwater photo experience, here is my thoughts on what and where to buy.
First you really need a mentor, someone who’s photos you admire and can share this experience with. Check with you local dive center, or dive club for such a pal. I believe to be more successful at something, you are best served by aligning yourself with those who have achieved ahead of you.
In the D-SLR category, I shoot Nikon bodies and lenses. This is because my mentor does, and now so do all my friends. I am glad, even knowing now what I did not then, Nikon is versatile and easy to learn. After selling several brands of housing and seeing many more in use, I am very glad I shoot in a Sea and Sea housing. I know they are the most ergonomic, best built, complete underwater systems available. Yes you will pay for it, but the value is priceless. You could pay much more for a lesser product. I am however not a Sea and Sea lighting fan. Ikelite is still the hands down fav there. I have even had more than one warranty issue, I must say they are professional and fair. Great experience. Ikelite is innovative and quality built.

So the recommendation would be…D-SLR: A Nikon D80, D300, or D3X…the prices are lowest to highest in this range from $799-$4999. Here is one of the only times you will ever hear me say this, GO ONLINE…B&H Photo Online! Great supply, service, warranty experiences all around. Unless you or someone you know is going to St. Martin, like coming to see me in Saba maybe…or on a cruise. Bauchands is a similar place with lower prices, same U.S. product and warranties, and NO TAXES! Save baby!
So put this baby in a Sea&Sea Housing with Ikelite DS125 or DS200 strobes, Go with TTL Sync Cords, and really any arms are fine; bought at your local dive/photo retailer please.

As for Digital Point and Shoot options: Olympus or Cannon, the highest end P&S you can afford and that has a housing available…see www.digideep.com for that answer. Go with the brands choice of housing if a Sea&Sea is not available…not a fan of the Ikelite All-In-One option either. The strobe of choice is Inons highest end option with fiber optic TTL. Especially two of them!

Check out these links:
Sea & Sea

Ikelite Strobes

INON

For more specific recommendations email me, just click on contact above and fire me your questions. The list of  options is long, but I hope this starts you off on the right path to having great success.

For product reviews and news, check back here regularly. Much more opinions coming soon