I'm using the Olympus 770SW. I've dropped it a number of times on rock and snow, taken pics while it's coated in ice, in the rain and sleet, at 4 F, and it's worked good. Haven't tried underwater yet.
Aside from that, the zoom range is limited, the auto-iso is fuzzy at times, it gets confused and won't lock the focus or flash for as long as 5 seconds or so (so if you try to catch your leader mid-fall good luck, but it will lock on him once he lands, in case you need evidence of where you left the body).
The pics are good enough for 8x10 and I have made a montage I blew up to 16x24 and it looks good enough.
Sometimes I'll take a Canon XTi, but I don't think that's what you're looking for here.