Photo / HD video flexibility (camcorder or camera??) (repost from photo forum)

[weinerr]

Looking for a camera or camcorder that will allow me to take both pictures and HD video. I currently dive with a Sea & Sea 1200HD that allows me to go back and forth between between photo and video with the push of a button. Unfortunately my 1200HD has focusing issues. I need the flexibility to capture a photo of a tiny creature and at a moments notice video a passing whaleshark (as happened to me in the Galapagos). Budget is not an issue as I am willing to pay for the photo/video flexibility, but hoping to keep the entire system including UW housing to <$4000-5000. Since I am a novice photographer I am also open to a non-SLR camera if the video quality to close to that of a camcorder.

 

[olphart]

I have been very impressed with the quality of video and stills from my Canon HV20 and HV 30 in an Equinox Housing.
I bought a Canon G12 to have a small unit for travel, and I've been extremely disappointed, (see my post about it)