Question about Waterproof Cameras?

The olympus is the better camera of the two of those. By far. Also there are other options in that market Pentax also makes a good one. It's a little cheaper, but only rated to 20 feet. So it depends on what you are planning on using it for. If you want to go deeper, you would be better off looking at a dive camera (sealife or sea and sea) or looking at a housing that is 200 ft depth rated. (they have them for many different brands and models.) - including olympus.