I just purchased a DXG 1080P waterproof camera for an upcoming Sailing Adventure! $165 including shipping!
http://www.mcmelectronics.com/product/83-11924

Waterproof, Compact and portable, easy to take along, the DXG-5BIV is perfect for vacations, road trips and just about any occasion you want to capture.

* Records at up to full 1080p resolution at 30fps
* H.264 encoding in .MOV format
* 1/3.2" CMOS image sensor
* Takes still images up to 12MP
* Digital image stabilizer
* Up to 4x digital zoom
* HDMI output (HDMI cable included)
* Supports SD and SDHC flash memory, up to 32Gb
* Connects to your PC via included USB cable
* 128Mb internal memory
* Includes ArcSoft TotalMedia software

I think/hope a Great Choice!