When the judged/viewed image is only 1200 pixels wide, just about ANY camera can win - it's how you use it that counts.
...
Cheers
James
A special congratulations goes out to Don's camera for winning. It'll probably want to take the week liveaboard trip to the Lexmark manufacturing facility instead of Palau, though.
(Only messing with you, James)
Once again, Dave, you've touched up on a good topic. I enjoy these because they go beyond the physics of photography - something I know nothing about.
I think Donovan touched up on a very good point that I find myself doing more and more each day after visiting the same areas and seeing the same critters time and time again. This is not to say I find these areas at all boring for I love diving first - shooting photos second.
When I'm back home looking over the images I've taken, I find myself day dreaming of some new way to photograph that subject that almost seems impossible. I'll usually sketch the idea so I won't forget and the day before I head out to dive the same place again, I find myself focused on trying to accomplish that particular shot.
At this point I have already previsualized the settings I should use on my camera, at what angle I'm going to take the photograph, the backdrop, my lighting technique, so on and so forth... Then it just becomes a matter of having a little patience and waiting for the moment - sometimes an entire dive. All this goes to waste if there's a cute girl on the boat.. then I totally forget everything I was going to do. NEW RULE - No cute girls on photography liveaboard trips! 
The question now becomes what to do differently. I'm sure we are all full of ideas we would love to experiment with. Personally, even with the amount of time I spend diving, my dives (and wallet) can not keep up with my sketch book of ideas.
So how can you photograph a Pygmy Sea Horse differently? I think Tony Wu has got one of those perfect examples here. For me, well I'm still trying to find one of these little critters here in Florida. I'll find'em! And by then I'll know just how I'd like to photograph it - Secret Method #6721A128Z.
Can't give'em all away! 
Art comes from using/honning your skills till they become second nature and are forgotten, then the soul comes through and you have art.
Well put, Donovan. This is the reason why I'm still shooting with my Olympus 5050. I'm still goofin' up on the ISO so there's definitely still a lot more to learn. Imagine the craziness if I switched over to a dSLR now!?!? 