Tom, Ikelite's super-eye magnifier is no where near the other (very expensive) magnifiers out there. And adding a magnification lens to your mask doesn't help either, you want to look straight when you are composing, not just to a section of the mask.
Now, I think this is getting a bit circular. Every housing has its pros and cons. All of them are good at keeping the water out. I agree with Dave in that Ikelites are not low-end housings, they use less expensive materials and are easier to build. If you are satisfied with all that they offer, get one by all means, you will take great photos. If for one reason or another you can't use (in my case, Ikelite has no housing for my camera) or just don't like their spec list, there are many options to choose from.
Luiz