Looking for a digital camera/camcorder?

Well I don't know about waterproof, or what you like, but a couple things.

Picture quality: For you price point your looking at the economy models, are the pictures going to be good enough for what your doing? Are you doing mostly outdoor, underwater, indoor? You want to make sure your product will work well in each scenario.

Power/Battery: How long will you be able to run the unit until charging? Can you buy extra batteries? Will you need special adapters for power to charge it? Again your price point will only allow a minimal consumption unit, so you better factor in extra batteries and such.

Storage of Video: Do you want a disc, hard disk, storage card? How long do you want to record video for? How much is the media? Can you buy the media where you're going?

Sorry I couldn't be more model specific, but these are some questions that should help you at best buy. Don't be afraid to test drive a couple before buying.