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Trevor,
I just got back from Vanuatu a couple of weeks ago - had toyed with the idea of getting a Gopro Hero3 Silver before I left however didn't in the end - really regretted it once I got there. It is a bit more than $200 but the white series is close to this price. Most of the waterproof digital cameras are pretty limited in depth without an additional housing. The Gopro is good to 60m.
Peter
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