I first started playing around with underwater photography about 3 years ago. I purchased my future brother in laws old Olympus 5050 with the Olympus underwater housing and an Epoque ES 150 DS strobe. As I take more and more pictures, I'm finding that I really like taking macro photos. My trip to Bonaire a few months back showed the short coming of my setup. I can't get the small critters the fill the frame. The best I can seem to do is get a decent shot then crop it to get the picture I envisioned while taking the shot. Is it worth it to get wet lenses to attach to my housing? That's assuming that there's still something being made that I can attach to it.
My other option would be going the DSLR route. I like what I've seen with the new Olympus 620 so far and I like the fact that they make a housing for it as well. If not that one, then one of the other entry level dslrs out there. I'd probably keep the old camera for my wife because she's showing some interest in taking photos too.