Lasse, I do think crop sensors are much better for underwater photography unless you absolutely need high ISO shooting, eg dark or high shutter speed ambient light conditions. A D700 is virtually the same resolution as the D300, which negates another FX advantage, higher resolution.
Otherwise, with FX, you have more battles with soft corners and dome ports, different DOF considerations (needing to go for higher fstops to get the same DOF at the same focal length (not FOV)). This is especially important for shooting macro and for your shots of wrecks. All the tests show DX has better corners at faster apertures for equivalent focal lengths. Dynamic range also shrinks as you move up the ISO scale.
I was talking to a devout Nikon user the other day and he was again touting the incredible ISO performance of his D3 compared to his D2x. That's the problem as there was a huge gap. The D300 to D700 jump on the other hand isn't as pronounced. Even if you get the 1+ stop ISO noise advantage, with the softer corners and DOF issues, it may equate out.
With the 60 on FX, on the canon, I tried it with an extension tube. Paul Kay and Matt Segal gave me that idea. But seriously, I like the smaller setup with a 50mm macro.
I suggest you borrow or rent a D700 rig and see if the results suit you.
Even Alex Mustard will have to agree that FX is low on the plus side in uw shooting, he just won't do it because he bought a D700. 