Thanks for the replies.
I would not be using it for diving. I do some hiking in the Southern Utah canyons, which requires a lot of time crossing or hiking in the water. I did not want to risk submerging my SD500 , so I kept it inside 2 ziplock bags most the time. I missed out on a lot of photo ops.
I like the size of the Pentax WP(i). Looks like that is the only choice for now.