Hi Adam. It happens that I own both a Canon G11 and an Oly XZ1 along with the OEM housings for each of them, and I think I can shed some light on your dilemma.
First, let me say that I normally shoot with an Inon D2000 strobe, but on my last dive trip I flooded it on the second day with my new XZ1, so I spent the remaining 12 days of my trip shooting only with the internal flash. While I definitely prefer using a strobe, I found the internal flash in macro mode to work without any problem at all, shooting in Manual Mode so that I could adjust the amount of light for each image. Using the flash diffuser worked well, and I didn't have any discernable shadow in the lower right corner of the image when using the diffuser, but there was a really sharp shadow when not using the diffuser.
Next, I also use an Inon 67 mm wetmount macro lens with my camera for closeups. Even with the lens in place (which by its nature extends the shadow range even further) I had no distracting shadows produced by the internal flash (and needing to be cropped away) when using the flash diffuser.
As to the ease of use of a camera with a wetmount macro lens, unless you are able in your freediving to spend some time getting the focusing depth right, a wetmount macro lens may not be what you want at all, regardless of whether you choose the Oly or another camera. In order to use a lens like this, you have to manipulate the distance from the subject manually by moving the camera itself in and out, and then when it's in range, the Auto Focus can fine-tune the focus. But until you get the camera into range, the Auto Focus won't be of any use. So while freediving, do you have the time to stay close enough to your subject to do this kind of manipulation?
Next, regarding where to store the lens when it's not attached to the housing, in my opinion, you would be better off with the Canon G12. Although you need to buy a separate lens adapter for this camera housing, it is attached by thin bungee cords and has a little quick-release cord so that you can simply detach the lens adapter with the lens screwed into it and it will be safe from loss. The Oly uses a screw-in method directly onto the housing (with no adapter), so you have to actually take the loose lens off the housing and have no place to store it.
BTW, the manner of the attachment of the wetmount lens is my main complaint about the Canon OEM housing. I hate that method of having a separate adaptor that dangles around when not in use, but for you it might be exactly what you need. I went back to the Oly for a number of reasons, but certainly one of them was that I am able to screw my wetmount lens directly onto the housing.
First, let me say that I normally shoot with an Inon D2000 strobe, but on my last dive trip I flooded it on the second day with my new XZ1, so I spent the remaining 12 days of my trip shooting only with the internal flash. While I definitely prefer using a strobe, I found the internal flash in macro mode to work without any problem at all, shooting in Manual Mode so that I could adjust the amount of light for each image. Using the flash diffuser worked well, and I didn't have any discernable shadow in the lower right corner of the image when using the diffuser, but there was a really sharp shadow when not using the diffuser.
Next, I also use an Inon 67 mm wetmount macro lens with my camera for closeups. Even with the lens in place (which by its nature extends the shadow range even further) I had no distracting shadows produced by the internal flash (and needing to be cropped away) when using the flash diffuser.
As to the ease of use of a camera with a wetmount macro lens, unless you are able in your freediving to spend some time getting the focusing depth right, a wetmount macro lens may not be what you want at all, regardless of whether you choose the Oly or another camera. In order to use a lens like this, you have to manipulate the distance from the subject manually by moving the camera itself in and out, and then when it's in range, the Auto Focus can fine-tune the focus. But until you get the camera into range, the Auto Focus won't be of any use. So while freediving, do you have the time to stay close enough to your subject to do this kind of manipulation?
Next, regarding where to store the lens when it's not attached to the housing, in my opinion, you would be better off with the Canon G12. Although you need to buy a separate lens adapter for this camera housing, it is attached by thin bungee cords and has a little quick-release cord so that you can simply detach the lens adapter with the lens screwed into it and it will be safe from loss. The Oly uses a screw-in method directly onto the housing (with no adapter), so you have to actually take the loose lens off the housing and have no place to store it.
BTW, the manner of the attachment of the wetmount lens is my main complaint about the Canon OEM housing. I hate that method of having a separate adaptor that dangles around when not in use, but for you it might be exactly what you need. I went back to the Oly for a number of reasons, but certainly one of them was that I am able to screw my wetmount lens directly onto the housing.
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