It all depends on how many times you plan on using it. We bought a yellow Cannon for about $200 for our first cruise in 2000 and it takes great pictures. We go to the beach while at Florida, use it on the water rides in the parks and also at our pool at home, so we get quite a bit of usage out of it. However last year right before we cruised someone dropped the camera, won't mention names, and we could not remove the film. So I bought 3 disposable water cameras to take along. They took great pictures. So if you plan on using the camera, other then a once and done cruise I would spend the money on a Cannon or similar.
Other then that I would go with the disposable. I did get the camera fixed and we used it this year, something broke off on the film reel.