The Ricoh is a tough little camera, it has some nice specs, but they come at a premium. Release date this May for approx. $693.
As an alternative that is just a bit tougher, good boating camera, and decent specs, look at the
Olympus 1030SW SHOCKPROOF (6.6FT).
WATERPROOF (33FT).
FREEZEPROOF (14°F).
CRUSHPROOF (220 LBF).
I am considering this one for a decent point and shoot camera that will handle boating,snowmobiling,beach use and not have to worry about it getting ruined during outdoor activities. Retail is $399, but I have seen it as low as $275.
A good value IMO, and I have had good luck with my current Olympus camera.