You can look at panasonic FT3 and Sony TX10.
FT3 has better picture quality, 12m waterproofing, GPS.. But it's bulky and LCD is not very nice..
TX10 is slimmer and looks just like a regular compact.. Picture quality is normal only, some consider bad due to Sony NR processing. No GPS and waterproof to 5m, LCD is much nicer than FT3 tho, and it's touchscreen which might be a pro/con as it might not function correctly when wet/underwater..
I personally initially wanted an FT3, but after trying out at Cathay photo, decided its too bulky and the LCD looks like those from cameras years ago (not sharp/clear, see for yourself t know what I mean), thus decided on a TX10 instead..
Decided to sacrifice some picture quality for a better overall feel of the camera, I plan to only use it as a rough use compact with occasional watersports usage. If I need the picture quality, I'd just bring my dslr, else iPhone for casual snaps! The TX10 is a nice compromise that fills in the gap in my equipment.
It also has some nice in camera features like HDR, twilight(advanced night) modes, and even a 3D shooting mode (more for fun/novelty tho). As long as you don't expect too much from it, you should be fine! Just enjoy the moment and take happy shots!
