Seems everyone is getting in to the flash based camcorder game these days. JVC's latest flash based camcorder, the Picsio GC-WP10, is waterproof to 3M or 10 feet and has some decent features. The back of the camera has a 3-inch touchscreen LCD with onscreen controls for recording and playback.
The JVC Picsio GCWP10 shoots 1080P at 30fps and 720P at 60fps, has a SD/SDHC/SDXC card slot, a stereo microphone (records to MP3 format), and a USB port.
Expect to see the GC-WP10 for about $199 in late September.