[james99]

I have the Panasonic(TS2) underwater point and shoot which does 720p video.

I don't see 720p being an issue. My DSLR does 1080p and it's better but I'm never disappointed in the 720p.

You might also want to look at:

http://www.goprocamera.com/products/?gclid=CKu0iaSdtaUCFYK5KgodXRpaZQ

The GOPRO is advertised here on DHC via the normal ad links you see.