Digital cameras: Any good, affordable underwater cams?

Any good, affordable underwater cams?

I have been looking for a digital camera for a while and just recently came across the Pentax Optio W10. I saw that it was water proof up to 1.5 meters/5 feet with 30 mins of continual use. Sounds good to me. However, the price was a little less than desireable.

So does anyone have any good digital camera reccomendations? I want something:
- under $300 but preferably even cheaper;(it will be a present from my parents for my 17th birthday)
- at least 5 megapixels (I like my picture quality to be sharp, clear, and maybe a little professional looking. I only have limited skills with photoshop so I prefer my pictures to need little to no editing.)
- from a well known manufacturer (Sony, Pentax, Nikon, Casio, Fuji..etc)
- I do not like cameras with little 'wheel' buttons on them (you can rotate the wheel to get to different menus or to change options, etc). They tend to look tacky to me.

Also, I am open to reccomendations for cameras that aren't waterproof, but the manufacturer has an affordable water proof case or 'zip lock' bag to house the camera in. I would be willing to spend about $50 more or less for this extra housing.

Thanks