I was not offended by the comments about the SLR vs point and shoot deal. I just thought that some of the people interested in the post at some point might be interested in shopping for a digital camera so I made a recomendation. It was a little off topic.
So just to provide a little bit of background for my recomendation.
My wife is a professional photographer with her own portrait studio. The money she makes supports my habit.
I could very easily use her old Fugi S2 and pack it in a case. I have just found that I take way more pictures with my point and shoot than with the SLR camera because of the convience. Even when we took our family on vacation to Costa Rica we left her SLR at home and took the point and shoot. I have just found that by taking more pictures I get more good pictures reguardless of the camera. Another way of saying it is If your camera sits in your boat because you do not have the time to take it out or you just dont feel like the hassle then it is not going to take good pictures reguardless of how much you paid for it.
That being said if I were a whitewater photographer I would drop the bones on an SLR with a super special bag or case or something. But since I am recreational paddler that happens to take pictures, a really small olympus that might fit in the front pocket of your vest is a pretty killer set up. I go because I want to paddle the river, not unpack and repack my boat all day.
ps. here is a link to the new 7.1 megapixel waterproof and shockproof olympus camera. looks like no need for a case now?