If you are considering the 1030SW, you may also want to consider/wait-for the "new" model, the "STYLUS TOUGH-8000", which s/b available soon (Feb. in the US, anyways) ... more info at
http://www.steves-digicams.com/pr/ol..._tough_pr.html.
I picked up a 1030sw in december specifically for its toughness and underwater abilities (for skiing, skating, waterpark events ... and of course some future in-tank shots) ... didn't want to worry about handling the camera with kiddie gloves in the elements.
I am happy with it's performance with respect to how I had planned to use it. Considering only picture quality and ergonomics, I've had a couple of compact Canons and I find them clearly better.
A couple of quick pro's/con's:
Cons
- easy to get your fingers in the picture
- weird video rec modes ... I think ... in one mode you cannot zoom but get sound; in another mode you get sound but cannot zoom; I don't think you can get sound and zoom together
Pros
- its toughness and underwater capability
- a macro mode using a built-in led light ... helps prevent over-exposure (e.g., if the flash was used instead)
- can use microSDHC cards