I started with one of those disposables that can go to 95 feet. Not to bad and cost effective. I then went with an Olympus camera and a pt015 housing and inon strobe.
Sounds like a similar setup as mine - Due to it's wide range of user defined settings, the Olympus Camedia C-5050-Z was undoubtably the most popular digital choice by recreational divers when the model first came out.
I also bought the PT-015 housing, which is designed specifically for the C-5050-Z and has been trouble-free for several years. The PT-15 has an opaque panel that blocks the integral flash - which should not be used underwater. My INON strobes required a digital controller kit but since then, INON came out with digital strobe models, that do not need separate controllers. The Tetra housing is a logical upgrade from the OLY PT-15 - haven't taken that leap though.
My first UW film rig was a point & shoot Reefmaster Pro
, with external strobe. The pictures were OK for an automatic, but it was frustrating not having exposure and focus controls. Anyone want the Reefmaster setup - ??? Here's a pic my wife took of me heading for the dive boat with the Reefmaster, followed by a few point & shoot pics I took - about 8 years ago (all film pics of course, were scanned):
Cavern dive shots from a cenote, deep in the Yucatan jungle - same camera:
These pics were also from the Reefmaster, taken off Palancar Reef - Cozumel, Mexico:
Here's my OLY digital housing rig, with single strobe and camera removed - I added another strobe some time later:
A few digital pics (greatly reduced) taken off the Florida Keys with the digital rig . . .
Mexico's Yucatan Peninsula - Dos Ojos cenotes - main entrance cavern:
I've got hundreds more, but they're on CDs and in my home computer's hard drive. The above are just the few pics loaded in my Photobucket album.