Price,
small size
waterproof to 10 feet.
30 Min HD video on 4 GB card
Files are easily editable
easily connected to any computer

long lag time on photos
mediocre color on photos even at 14MP
no built in video light
inferior low light videos (especially Indoors)
NO smooth panning in any mode( very blurry when panning at any speed.

The photo quality is lacking. Long lag time and colors are not great. Video quality is alright but low light produces grainy images even at HD quality. Would be OK for outdoors in good light. No light when using video so suffers when light changes from shadow to sunlight. Image stabilization is poor. Tried to do video while walking slow and video was very jumpy. To be honest haven't tried underwater but if it has the same quality as on dry land I might consider a slightly better camera. It seems combining both a video and a still camera in one might need to be rethought. But i guess the price is alright if you do videos and pictures outside in bright light all of the time. A for me this will definitely be a secondary camera for me.

Similar Products Used:

several canon and JVC HD video camcorders
Canon Relel XT, XTi
Fujifilm 12 MP with HD video
Nikon D5 camera