Oops. This was probably an error by Adorama. They now sell the case for $399, the camera for $449 and the combo for $700. I did get a combo at the low price of $399, so they did honor the deal until someone woke up.
I had wanted a spare housing, because changing the port for a fisheye on the dive boat seemed risky. The port lock on this housing was not designed for easy swapping, as it requires a cross head screwdriver and maybe a strap wrench, and careful cleanliness and lubrication.
If you are shopping today, the E-PL5 with Oly housing is still a better choice. It costs more, sure (housing $800, camera $600). You get a much better camera and a somewhate better type II lens. Same clumsy port locking system though. I love my E-PL1, but 3 years is a long time in the camera business.