OK, after reading the posts (and after relieving some poker players of some money), I went out and bought the Canon HV30. I still don't know whether the HDV will show a lot better than the SDV, but figured that this camera would allow me to shoot in either format and it had very good reviews for on-land and low-level shooting. It also had 3 different settings for framerates, 24p, 30p, and 60i.
Since I plan on using it both above and below the water, I thought it would be good to get an HDV, at least for the above water shoots. I am still looking for a housing. There is only one listed that I have found so far, and that is the Ikelite 6071, but in the only review I can find on that housing, the reviewer gave it very bad marks. I am also pretty handy with tools, so thought I might DIY a case, but am open to getting a prebuilt housing, if anybody knows of a different manufacturer.
(I am not relying strictly on this forum for this. I am still doing my own research. I know in other forums that I am a monitor for, it is not considered proper manners to just ask and not do your own research at the same time.)
I also have no problems with editing the software at home. I am much more comfortable with that, since I can then put a soundtrack or a voiceover to the video for a more realistic documentary style production.
Thank you for all your suggestions and keep them coming. Even when I no longer need the suggestions, somebody else will eventually be looking for the same information.