Many recommended Fuji Velvia 50 slide film. I use it, too. But it doesn't cut it for point and shoots. You need way to much light for such a slow film, which cannot be provided with a Sealife Reefmaste or Ike Auto 35
Point and shoots have a fixed shutter speed and usually little or no control over aperture. That's why they are easy to use. The down side is you have little or no control over exposure.
Print film will provide the processor with far more exposure latitude to help the photos come out a little better.
I've heard some people recommend slide film in order to learn how to better take shots, since you will learn from your mistakes. This is nonsense. All you will learn from shooting slide film is that most shots will be waste of film. Since you can't control your exposure, you can't do anything about it, except that you might as well not bother trying unless under perfect conditons. Use the latitude that print film provides.
Under ideal conditions of ambient light and low turbidity, you can shoot 100 speed film, assuming you have a strobe and are close to the minimum focusing distance, usually 3 ft. You can improve your chances by going with a faster film 200 or 400 speed, but the added grain may detract from the quality of the shot.
My print film of choice is Kodak Supra or Royal Gold. The choice of film brand will be inconsciquential vis-a-vie your ability to compose the shot and get close enough to expose the shot properly.