For a year or two I used a Pentax Optio W60 and had pretty good results. Unfortunately, the screen cracked, although I had it in a soft Lowe Pro protective case and can't remember ever dropping it, so I can't actually recommend it as a "tough cam."
Since then, I've been shooting with the Lumix TS-1. The HD video is definitely cool, but I'm a bit disappointed with the picture quality - seems like I get more noise then I did with either the Pentax or prior Canons I've used. It took me a awhile, but I've managed to work out most of the bugs by fine tuning the manual settings on sensitivity, f-stop and exposure, but it took awhile and still I think picture quality lags behind what you'll get from other point and shoots. Definitely not the way to go if you like to set it on auto and go.
In the end, I kind of question the tough cam concept for climbers in general. I got them not for the water proofing but more for the dust issue, as Canon point and shoot lenses have a history of jamming up with minimal dust and dirt intrusion.
If and when the Lumix goes, I'm probably going to go back to a Canon point and shoot. I'm willing to possibly pay more to replace my camera occasionally for image quality and RAW capability, but that won't be everyone's priority. If you're happy with what you've got, I definitely would NOT spend money to upgrade to a "tough cam."
One final aside, I also checked out the Canon D10, but the interior zoom makes the thing so damn wide and bulky that it really detracts from the value of having a point and shoot in the first place, especially for climbing.