This looks like a really good alternative for divers who want a compact underwater camera. I recently switched from an S40 to a C5060WZ. No way I'll switch back, but the S40 did do some things really well - and it was much smaller.
/Anders
S60
This looks like a nice camera. I like that it's small and can shoot RAW. Most of us use a strobe but for a newbie the customized U/W white balance could yield some nice results. What I really like is that the lens isn't huge so most of the wide angle adapters should work. Glad Canon stuck with the 5PM sensor.
I have to admit that I have not read much about this camera yet, but I do not see how one preset WB can work at all depths, in all colours of water and with and without flash.
It is an interesting innovation though. And I am really pleased to see Canon incorporating a feature specifically for UW use.
Alex
I assume having that one UW WB setting is equivalent to having one colour correction filter.
One of the things my S40 did really well was adjusting custom WB settings (using a white piece of plastic as reference). I expect the S60 to be as good at that, and that makes that one UW setting irrelevant.