I use a housed SLR (Canon D60) and found that for wide angle, in general, shooting in aperture priority or shutter priority and telling the camera to underexpose by 1 stop (because water is dark) works pretty well and exposes the scene properly. The water should be the right shade of blue (or green as the case may be). This of course can vary depending on how your camera (and you) meter the scene, etc.
As for the strobe, I use a housed Canon 550EX with a diffuser added, which seems to work pretty well but depending on what I'm shooting I sometimes have to stop down the strobe as well by up to a stop -- pictures of divers in their black wet suits or stingrays with their dark skin are a typical example. Coverage is really the problem I have with my current setup; I will probably get a second strobe but I'm still thinking about that.
For macro, or wide angle on night dives, I set the camera to full manual and let the strobe electronics do all the work. This works really well for the first 40 shots or so, then the batteries on the strobe start to get weak! I really hate AA's.
Previous to getting the SLR housed I'd used a few different housed consumer digicams and always had the problem of it typically overexposing. Be sure the camera you get lets you do exposure compensation easily while housed!
Hope that helps,
Sean