Hi Chris,
While I agree that MWB is a very important feature, I understand if you don't want to spend big $$ for the BlueFin housing. More if you want to get lights too. Not everyone can swing it. But that doesn't meant that you shouldn't buy anything. There is a good housing for every budget.
Since the Stingray is a universal housing made to fit a variety of cameras (very cool), it can not have such specific controls as mwb and exposure. (believe it or not John) That's just part of the deal.
It takes a model specific housing like the BlueFin to do that. But it costs more and will only fit the HC7/9. Which is the better housing? The BlueFin of course. But if you can't afford that, you're still allowed to have fun shooting uw video with another housing. Lot's of people shoot Stingrays and Dive Buddies and get good results. (AWB only)
The HC7 is not the greatest low light camera every made, but it does well for what it is. I've seen good uw imgages from it and others of it's type. You'd have to step up to an FX1 camera to see any real improvement and again, that's big $$. (plus size, travel weight, etc.) It's not for everyone.
But according to your post, you're going to be in low light, green water most of the time, right? Well, that means that you won't have a lot of ambient light so MWB is not as important to you. If most of your light is artificial, then the awb will work pretty well. Embrace the green around you, it's a good color. And have fun shooting wrecks!
my $.02
Danb
Oh, and John, the extra pod length may look bad to you, but would you really want it shorter? That would mean a smaller battery and shorter burn time. That's not better.