I have an olympus that is waterproof I bought for paddling and snorkeling. The picture quality is so-so but its small and tough and perfect for watersports.
I have had three canons now and they have all been good-quality, reliable cameras. The most recent one, I dropped at the top of a staircase and watched it bounce down two flights. I figured it was dead but I am still using it to this day and it works fine.
I'd buy the SD990 if I was in the market today.