Jim,
I bought the Kodak ZX3 Playsport (i don't work for kodak but i'm going to say a lot of nice things here about the product). It is as small as a blackberry phone, and is waterproof up to 3 meters (about 10 feet). It is full 1080i HD, or you can scale it back to 720i or 720p. I bought the bundle (runs $250 from kodak, i got mine on amazon "like new" for $135). the bundle comes with the camera, a wrist lanyard, a 4GB memory card (40 mins full HD), a battery (model# Klic-7004), a small bendable tripod, and a remote control. I love it. It has been awesome catching fishing trip moments on it. And depending on the clarity of the water, you can even video the release of the fish all fishing show style. It also takes 5mpxl stills if you just want to get a quick photo. Oh, and it comes with an HDMI cord so you can plug it into your tv and watch your videos straight from the camera. I will try to post a couple of the videos to youtube, and then post the links in this thread. I usually position the tripod in the rear of my boat and then stand up front on the deck. When I get a fish on, I reach into my pocket, hit record on the remote control, and record my catch. It is really good for me because most of the time I fish alone. The remote only comes in the bundle pack though.
However, there is a couple of drawbacks for you. It does have digital zoom, but it is not 10X. More like 4x. Also, it does not perform well in low-light situations, and, even though it has an electronic image stabilizer, it can get shaky if you aren't careful. It also does not float, so be careful around your lakes! they have floatable jackets for it though. Also, the battery life is pretty short, about an hour if you keep reviewing your videos. If you decide to get one, get an extra battery. they are really cheap on amazon. The mic pics up every sound, so wind distortion on audio is to be expected on a windy day, but it is okay if you are within 6-8 feet of the camera when talking.
for me, the positives completely outweigh the negatives. but you should read reviews for yourself. i'm just giving my suggestion. i will tell you that since i have had mine, 3 of my friends have also got them to record their fishing and hunting trips. plus, KVD does a commercial for it. then again, what doesent he do a commercial for these days?
if you are taking it saltwater diving, it is not that great. you really have to be up close to catch stuff on the camera. they have a special housing for it that makes saltwater video better, but i don't want to spend the extra $500! that is 5x what the camera costed me!
Hope this helps man.