First off I'll agree with everyone else as far as this camera being rugged, good pictures, lots modes and menu options etc. What I use my camera for the most though is shooting video. While the video quality compared to the WG-1 is amazing, the WG-2 shoots a much more narrow field of view than the WG-1 does. It seems this is due to the movie shake reduction. The old WG-1 would crop the edges in order for the movie sr to work, but once sr was turned off you would regain that 25% or so around the edges. This isn't the case with the WG-2, you'r stuck with that narrow angle even with movie sr turned off. In my opinion this would have been a five star camera if it wasn't for this one problem.
I'm hoping Pentax might eventually have a software update to fix this issue. For now though I use a .75x wide angle lens to get a field of view similar to the WG-1. The lens I use is a Panasonic DMW-LW46, attached to the macro stand. It works great, no fisheye look or vignetting, although it makes the camera quite a bit more bulky with it on. There are a couple things I should note about this particular lens. One is it is somewhat large, in fact the bottom sits about 1/8" lower than the bottom of the camera. It's also a bit heavy. Heavy enough that I decided I better get out the glue and permanently attach the macro stand, which should also help to prevent water from getting between the camera and lens.