I prefer Kodak Easyshare Sport C123 have only had this a couple of weeks but this camera is turning out to be great for the pool.
A great price for a camera I can re-use and not have to worry about getting wet.
Takes great pics in/under the water and you can also record videos (no zoom when in video mode).
When turning on it is ready to take pictures very quickly.
So far it has not eaten batteries, which is good because it does not appear to turn off automatically.
Has other modes if you want to use the camera for more than taking pictures in the water but we have not really tried them out.
ETA:
Soon, I am going to attempt to upload a video taken in our pool. Also, wanted to add one great thing about this camera - we left it out side overnight and it rained. It was really a relief to know that my camera didnt get ruined simply because I forgot to bring it in after swimming!
Kids are having a great time using this camera, so much so I may have to go ahead and pick up a 2nd one! It is really holding up to being roughly handled.
added a very short clip of my dog. my son uses the camera 1st above the water then underneath and then above again. I have also noticed that when in video mode, the camera is picking up sound underwater! it's pretty cool, I wasn't expecting that.