I've seen some really good pictures taken with a number of these cameras. If you find you want to take the photography further with the addition of an external strobe then this adapter. should work with the camera. The housing I understand is very small and compact so you can store it in a pocket if needed.
If you want examples of photos from this camera then, as always, goto www.digitaldiver.net and ask over there.
You may find a good second hand system on a higher spec camera like the c4040 tho so I'd shop around first.
To be honest most of the photos I've seen are in blue water. The power of the strobe should be ok for fish portraits etc but given that it is fairly close to the lens you are likely to get a lot of snow in the picture if you use the flash in UK waters - so you'd have to get in real close to reduce the amount of water between you and the subject - the mju 300 and 400 can focus as close as 20cm but the 410 can focus to 9cm in supermacro mode (supermacro mode may not allow you to use the internal flash tho).
I'd say that instead of using the built in flash you'd be better off using a dive light.
Could you consider the c50 or c60? More expensive but more capable and not too much bigger. For the same size you could also look at the Sony cameras which I've seen produce some excellent pictures.
The mju400 turns the flash power down when you are in macro mode so the photos are not so well illuminated.
Other than that I have been pretty pleased with my camera. The photos range from OK to pretty good which is better than they did with a 35m camera. One other benefit is that the camera itself is water resistant so can be taken out of the housing in the rhib to swap batteries, xd cards etc.
PM me and I will fill your inbasket with sample photos (1mb each).
<font color='#F52887'>I have bought one of these, money a bit tight so I (or more to the point, my missus) bought the mju-300 and I bought a PT-016 housing and will be trying it this weekend. I cant wait!
I Have a MJU 300 and pt-016 housing, for the price its very good, as with most digi compacts there is a shutter delay so a bit of panning for moving subjects is needed, the camera is splashproof with rubber seals on all covers and is all metal as well, the housing is nice size ,easy to use with 5mm gloves on a nice rubber lCD cover/shield so you can easily view the shot just taken, I got 60+shots at Stoney in around 6 deg and the battery still did not give out.
All IN ALL Very pleased
PS if you want a sample pic mail me and I will send you one or two
I just use the standard auto mode, I dont bother with landscape, portrait etc, suppose it could depend on background and foreground etc.
I will mail you a pic that I took for you to compare it to.