Yup, I've always taken my (at this point, pretty ancient) Casio Exilimi Z750. At the time, it was pretty tiny, but still had great specs. It was pocketable, but even then I almost always took my D100. The Z750 had decent video, the D100 had no video.
That said, we're heading back in March and I'll be picking up a new P&S to take down, specifically the Nikon AW100. Waterproof, GPS for geotagging, shock resistant, etc etc. Olympus and Panasonic I believe are the only other options out there for "quality" P&S's. There are some Flip's and Kodak's out there that are waterproof and such, but with fixed lenses and other huge detractors, I don't consider them in the same ball park.
I've read numerous reviews of failed seals on both the Panasonic's and Oly's, even on just a few month old cameras, so I'll give Nikon a shot. The manual for both the Panny's and the Oly's both state that it needs sent in yearly for seal replacement, at your cost of course. I haven't found anything stating that from Nikon, but I haven't looked at in as in depth either. Interestingly, from the users that have had water damaged Panny's and Oly's due to seal failure, even on cameras under warranty, they have both declined repair on them due to ... water damage..
The big draw to me other than the seal issues, Nikon uses the H.264 encoding, Panasonic uses AVC-Lite. I prefer H.264. The Nikon has a "shake" mode to change modes, which seems like it could be helpful in the winter with gloves.
I'm not overly concerned with image quality between the two, I'm sure they're both "good enough" as I really primarily plan on using it at the water parks, pools, water rides, etc. Otherwise I would probably just use the camera on my new cell phone, a Samsung Galaxy S II. The camera on this thing is just absolutely spectacular, I would say the best on the market right now. The iPhone 4S camera I thought was amazing and I think this actually surpasses it a touch.
HTH
