hi carl
i now have my second canon elph.  it's the s330 model and has an available
u/w housing.  even without a strobe, the camera is wonderful and is even better
as a pocket size digital on land.  the 10 second movie feature is lots of fun.
 canon is now offering the s-400 with more megapixels and longer video
clips...don't know if they have an underwater housing for it yet, but i'm sure they
will.  this is definitely an ebay item and you can probably do quite well
online.
let me know if you have any more questions
regards
mark