Coming to Bonaire in late August. I have a Canon SD700 IS point-and-shoot camera and I need an underwater housing. Canon makes a underwater housing for the camera, but so does Ikelite. Canon is available for $170 and the Ikelite can be had for $240. Is the Ikelite worth the extra cash?

Does the Ikelite allow a cable connection to their strobes when you want one (and you will). That is worth the extra money if that housing permits that.

another consideration - accessory items like a wide angle or a macro conversion lens - the particular housing may or may not support such accessories...

Being the contrary that I am, one problem with the Ikelite housings (other that cost) is they are larger and quite often block the internal strobe. Now if you are planning on an external strobe than the Ikelite is a better housing.

The Ikelite doesn't block the strobe for the SD700 according to sites I have looked at.

Personally I would go with the Canon housing which is made for the camera rather than the Ikelite one is adapted for the camera.

The Ikelite one looks much larger and like it will be fairly bouyant given the space inside.

http://www.camerasunderwater.co.uk/d_stills/canon/ixus800/index.html

http://www.camerasunderwater.co.uk/d_stills/canon/ikeixus800.html

I have a Canon SD630 with the Canon case. It works great for me as it continues the simplicity of the point and shoot underwater. Maybe someday you might want a very high end solution but when you are just starting (like me), the simpler the better.

I did the Ikelite for my SD900 due to the depth rating and the fact that I am a previous ikelite user.

I think you’re better off with the original Cannon housing.
Iklite housings are very bulky especially when you start using there strobes and arms.
Buying the housing is one but also consider the extra expense on the syncord, arm and strobe .
You'll spend a lot more in the end.

Second, you don't always have all camera functions available in an Iklite housing. (model depending).

Third, there are very good alternatives for strobes that are cheaper and more user and travel friendly.

Last, should you ever have any water damage, there is a good change Cannon will replace your camera and housing. This will certainly not happen if you put a Cannon camera in a Iklite housing.