The G7 has caught my eye as well (as has the A710 since I could just about get the camera an dthe housing for the smae price as the G7). The only UW pics I've seen from the G7 are
HERE (the guy used a canon husing with the camera set in UW mode, no strobes or filters).
HERE is a link to his post in another forum where he talks a bit more about his setup.
If I decide to go with the G7 (it'll be my first camera) I want to get the canon housing to start out with (I won't have the money for the ike anyways). Then, if I decide to add some strobes and get more serious I'd probably get the Ike housing later since it has TTL through the hotshoe (the canon housing does not) which will increase my strobe options.
I'd still keep the canon housing to have something more compact to take the camera with me when I'm actually working or doing something else underwater.