dmanthree: Totally agree on the need for raw. What better tool for underwater pics than custom white balance? Why not include the capability?
Alistair Simpson: More to do with "waterproof" cameras in general rather than these new releases: do any of them float? I'd like to buy one as a present for a relative who sails, and whose children sail too, but a camera that's waterproof and sinks like a stone isn't much use IMHO. Having read previous tests & looked at various manufacturers' websites, it seems odd that this feature isn't available.
Check out the Wrist Pod by Golden Hour -www.GoldenHourCompany.com - it won't make your camera float, but it works great for sailing and water sports in general.