I use a WP-DC 300 Housing first with a S40 and now with my S50 and had it with me for approx. 40 Dives without any problems.But you have to take your time to maintain the housing properly.
The risk of flooding your housing is allways there when you take a camera underwater - no matter wich housing you use - but with a maintained housing is it not very high. But there are only two types of UW-Photographers: The ones how have had a flodding and those who will have a flooding. I still are in the second group and hope this will stay this way for a long time. After I had problems with my S40 on the last trip (non diving related) and ended up without a UW Camera for the second week I decided to take a backup Camera (the repaired S40) with me next trip. I also have my D60 for surface photgraphy ;-) but this is overkill.
So Again:
- The WP-DC 300 is a good trustworthy housing
- Getting in the Camera is very easy
- You have to take your time for maintanace at least once a day (valid for every housing)
- If you don't like risks take the housing without the Camera to the first dive.
- Floodings do happen! not very often but they do. If you can't afford the loss get a insurance (DAN if you are US Based, DEPP or Homeowner otherwise)
- Take a backup camera with you (at least for surface photgraphy, and even if this is a simple point and shoot) if this is a trip where you don't want to be without a Camera in the worst case. Don't forget: it is far more likely you drop your camera on the ground, it is stole, or there is another malfunction (I know what I speak of) also in this case you don't want to be w/o a camera.
If you have more questions on the S50/WP-DC300 Combo have a look at the other threads on this board or just ask.
Simon