Pros Can go where other cameras can't and takes shots that you would normally miss out on
Cons Image quailty yet to be perfected, quirky about memory cards.
Summary Picture quality is about a 7 out of 10, but a 7 is better than no picture at all. If you find yourself in extraordinary environments and want to photo them without dragging a bunch of weatherproof gear around- this camera is THE best option on the market right now. I am thrilled to be able to pull out this pocket sized camera ANYWHERE and quickly get a few shots off in harsh environments. If the only other option is to simply not have a picture of it...then 7 is the new 10. Its intended purpose is to let you take pictures where you normally would not be able to, and it fulfills its purpose 100%. Make sure you use a correct memory card for all the features to function. Panoramic mode and some video modes are not available with non-olympus cards. I am using the free card that came with the camera from Circuit City and everything functions 100%. It came in a Sandisk package, but the card itself says olympus.
"Water Damaged"on by liubhs02
Pros Waterproof for awhile
Cons I bought this camera about 6 months ago for it's waterproof ability. The picture quality wasn't great, but I just wanted a waterproof camera. But today, the camera just leaked. It's apparently pretty common, see www.photographyreview.com ratings.
Summary I really hope Olympus will cover this under warranty, because that's a lot of money down the drain if otherwise.I sent it in for warranty repair. I was glad Olympus honored the warranty and repaired the camera. I'm taking it to Hawaii in 2 weeks. I hope it will hold up for those underwater shots.
Updated on May 27, 2009
Pros Take anywhere portability
Cons Some odd restrictions in some settings
Summary I like the worry free portability. I don't have to worry about the camera getting wet if I'm out in the rain, or the ocean for that matter. Some of the odd things are the severely limited time of 10 second length of a high quality (640x480) 30 frame per second video clip... that's disappointing... but the 15 frame per second clip is as much as your battery/card can handle. The camera gets quite warm after a few minutes, but still keeps recording. There are many photo setting options, but for some reason, in the "program" mode, the file size is limited to 5 Mpixel or less. (Why did I buy a 10 Mpixel camera??) Also you may change the settings in one mode, and then switch to another mode, but the settings for each mode have to be set individually. Just because you changed them in one mode, the camera only changes the particular settings for that mode. Change to a different mode, and you have to change the settings again. You have to watch carefully that the settings are the ones you want.
Low light situations, even if it's not that dark out, the camera picks 1600 asa speed equivalent, and the pictures can be quite grainy looking. Quite a bit more than I would have expected. The flash also isn't as consistant as I would like. Over exposed more in several shots of similar sitations.
I'm not as impressed with the camera as I thought I might be, but I bought it for a compact travel camera so I don't have to lug extra bulky camera gear around, and that's what it is.
"Not Hawaii Proof"on by JD6150
Pros Nice for cold
Cons Not water proof!
Summary Second day of snorkeling in Hawaii, camera sprung a leek.
Pros It makes decent pictures and movies, is fairly sturdy, easy to operate.
Cons It is NOT waterproof, not even up to 1 m (for snorkelling). It may hold out in the rain, but it is not meant to be taken into the water. The 10 m waterproof claim is an extravagant lie. (Why 10 m? They could have just as easily written 50 m.)
Summary I bought this camera specifically and only for snorkelling and, I hoped, diving (I have better cameras for dry conditions.) A previous model I had, Olympus 770 SW, was a very good one, waterproof to 3 m, and worked really well until I ruined it by my own mistake. It was no longer available so I had to take 1030 SW. It worked well the first day, 2 x 30 min of snorkelling. The pictures were very good. I was surprised, when I opened the battery compartment later, to find it very moist. (I looked up the manual - it says, improbably, that this is how it should be and you should dry the inside carefully before next use. Which I did, thoroughly.) Still, the next day, as soon as I jumped into the water, the camera was kaputt. Water splashed across the LCD screen from inside. Opened the battery compartment, water poured from it.
I read other reviews and my experience does not seem to be unique. This camera is simply useless in water.