Thought I'd bump this. Took over 8 GB of pictures on scuba and snorkeling with the new camera. No Strobe.
Pros:
Can take incredible underwater pictures - if you can get the focus right.
Overall very happy with it, there are shortcomings but for what I paid pretty damn happy
Cons:
FOCUS! It takes 2-3 seconds for it to focus and maybe another second to take the picture. Underwater it's incredibly difficult to hold the camera steady especially if there is any current. The time to focus and take the shot is painstaking, there is no reason for it to take so long.
No control - pretty much point and shoot
Built-in flash is useless on land and underwater, totally useless. That's expected though as it supposed to be used to trigger an external strobe and not kill the camera battery in the process.
Examples to follow. If you can keep your focal distance and camera steady it does pretty well. Snorkel mode was too red so I manually set white balance with a white card underwater. Scuba mode was much better in terms of color.