I'm with Craig on this. I've had the 10.5 for several months now. It's great for certain situations, and I expect to use it more now that I feel I've pulled past the steepest parts of the learning curve.
But the 12-24 mm is still the lens I rely on most for w/a, and would definitely be my only choice if I had to pare it down to only one w/a lens. The 12 mm end is definitely is wide enough for your whale shark, and not just the head - unless you're thinking of swimming inside its mouth. (See below).
Edge-to-edge sharpness with the 12-24 is excellent at all zoom powers, and it is very rectilinear too. Of course, your results may vary depending on the port combination. For Subal housings, the 12-24 mm works extremely well with their big dome port, but not with the smaller SWB, which led to some very misleading reports last year that the 12-24 mm was not suitable for use in an underwater housing..
Re: your second posting, I've never used the Nikonos cameras, but my understanding is that 20 mm would be the FF housed SLR equivalent of the Nikonos 15 mm. I don't have the acceptance angle numbers with me here, but the wide end of the 12-24 mm on a digital is certainly a lot wider than the 20 mm on a FF SLR. The 12-24 mm works out to almost exactly the same range of fields of view as the 17-35 mm on a full-frame camera. So, in other words, I think the wide end of the 12-24 is actually considerably wider than the Nikonos 15 mm.
Port extension rings are among the least expensive components you will ever buy from your housing manufacturer. For the Subal housings, at least, the ring used with a dome port for the 12-24 mm is the same one you need with the 17-35 mm, so if you happen to have (or acquire) one of those, you've got a two-fer, and a wonderful lens for things like sharks and large pelagics which can't be easily approached close enough for optimal use of the 12-24 (not to mention the 10.5).
With my other housing, I've also used this same extension ring to mount a 105 mm macro on top of a 2x converter for super-macro, so this ring is at least potentially a "three-fer." The zoom gear is, or should be, a simple (and relatively inexpensive) plastic sleeve.
Back to your concern about only being able to get the head of a whale shark with the 12-24 mm, here's a slightly larger animal, shot with the 12-24 at 12 mm. Admittedly, the 10.5 would have been even better for this subject, but the 12 mm was wide enough.....
