Some vacation video taken by my better half all just shot with everything in "Auto": http://vimeo.com/56833156
Have you thought about a dslr? They certainly have some disadvantages....which have been discussed many times before. But as far as quality is concerned...in my opinion there isn't much that can match the quality of picture with the exception of the RED. Another consideration would be bmcc. Not a lot out yet about underwater use...but still something to consider.
Dustin
At this point, keep an eye on the Panasonic GH4. Even if you're not ready for 4K, its 1080 spec is the best among all the camera out there for now. Head over to EOSHD.com as they do extensive review of camera, compare to 5DM3 RAW, BCMM. They don't do comparison with the RED as that's not their price point.