Will you be diving at all or is this just for pool/beach/snorkeling use?
If not diving, take a look at the
Vivitar ViviCam 6200W. (it's only rated to 30' which is why I mentioned diving)
I bought one last year not expecting much but was pleasantly surprised with the results. An excellent little camera for the price.
For some samples see the link in my sig below. All snorkeling pics and most beach & pool pics were taken with this camera.