Olympus is preparing the release of their new waterproof digital camera, the μ850SW. The Olympus μ850SW model is waterproof and safe up to 3 meters underwater -- that's a couple of inches short of 10 feet. The 8-megapixel waterproof model supports ISO 1,600 and sports a 2.5-inch LCD monitor and 3x optical zoom. Olympus μ850SW will sell in the Japanese market for JPY40,000 or approximately US$370.