I Purchased the Panasonic Lumix DMC-TS1 on 02/3/10 along with the Panasonic marine camera case. One of the main reasons for purchasing the Lumix DMC-TS1 was the "waterproof" camera itself. I thought in the seemingly rare case that the marine housing were to leak the camera itself would be "waterproof". I thought I had a good back up plan. However on a shore dive (only the third vacation of using the Panasonic camera and housing), the housing leaked allowing water in the case. The shore dive was fairly shallow, no greater than 30 feet.
When I returned to the resort from the dive, I quickly removed the camera from the housing that was 1/2 full of water. I rinsed the camera off with tap water to rid the salt water. I let the camera air out for 24 hours before reassessing. I expected the camera to turn on, when it failed to turn on I was shocked. This is the first time the camera ever came in contact with water and it was while it was in the marine housing. My brother has a Canon that accidently got wet when his housing leaked and it still works, and it is not advertised as being a "waterproof" camera.
So I have two failed pieces of equipment from Panasonic each costing over $200 dollars. It happens to be 3 weeks over the year warranty . I have the wonderful opportunity of mailing in the defective equipment ( at my cost) and for $45 I can have their technician look at it. After it has been assessed , a repair fee will be given and thankfully I can apply the $45 dollars to the repair fee.
I have a Sealife camera and marine casing that has never leaked over the years of use. If you are planning on taking pictures while diving, you might want to consider other cameras.