-- Last Updated: Mar-01-13 3:34 PM EST --
I am also shopping for one...I am considering the new version of the Nikon Coolpix AW100 just out, the AW 110. Looks good on paper and the reviews of the AW 100 were generally quite good.The AW110 is expensive ($350) for a point-and-shoot with a so-so sensor, but has GPS, Wifi-connectivity, and what looks like good general functionality. Specs for depth and drop resistance seem to be enhanced from the AW100. I'm not sure that the changes are worth an extra $120 or so from the AW100, though.
Edit: Sorry, should have been Nikon, not Canon, in title.