Based on my struggles to combine diving and photography, I found the video about Olympus's presentation of their new UW offerings--especially the E410 housing and accessories--- very insightful. Please scroll down the following site and see and hear for yourself.
http://www.imaging-resource.com/EVENTS/PMA...MAS07VIDEO.HTML
It almost seems that the Olympus rep has actually done some diving with one of the huge rigs he mentions, under less than ideal circumstances. It is certainly a camera/housing/flash option that I'll considering seriously, both for its compactness and also the great help of Live View. (It does seems that this Olympus innovation is now available on Canon's latest flagship, too. but I neither want to pay for nor have to carry, let alone dive with such a huge camera!).