I use the Flip 3.1 system and a video light, mind you it is on the low end of the video light scale, maybe 400 lumen at most. I use the red filter on top and the macro lens on side. I do a lot of diving in Key Largo in the 30-40 foot depths on the patch reef, it works great with just the filter and I use the light a lot when shooting into holes or ledges. If I head North and dive the Pompano area, depths are usually 60-70+ to the reef with higher particulate and darker water (maybe more similar to N.C. diving with the wrecks and current?). The red filter works well with the light, but the next time I am down I will try out the mid-range filter that is designed for up to 50-60 feet. I did a drift dive at 3:30 in the afternoon in Pompano that was almost a night dive due to the particulate and overcast skies. Without the light, the video would have been horrible.
If you go with the Flip with the macro lens, it will not be able to be used at the same time, so a video light would be needed. If not, you can put the red or deep on the Flip. If you want to get macro footage, I have found the light to be very helpful.
I like the idea of using a slate to film the change with depth, and I experimented with filming the same subject with just the filter, filter + the light, and then without the filter and only the light (squirrel fish and eels worked well for this with me) . My preference is the red filter and supplement with the light. Once you start editing the footage, you can see immediately which you like the best.
Mike