I've been patiently waiting and pricing an underwater setup for dSLR-quality photos and Full-HD videos:
SONY HDR-SR11 1080 60i camcorder with 40mm equivalent WA: Ikelite housing $1235 + 26mm equivalent WA converter $850 = $2085
The universal WA converter is attached to the UW housing. On underwater forums some owners have reported soft corners. This setup only delivers P&S-quality photos.
Canon 60D or future Rebel with Full-HD 30p: Ikelite dSLR housing averaging $1425 + port for 17-85 IS with 27mm equivalent WA $237 = $1662
I can't imagine 17-85 IS which was specifically designed for Canon crop dSLR will deliver worse results than an universal WA converter mounted on the UW housing. This setup will deliver dSLR quality RAW photos and dSLR quality low-light Full-HD videos. With a 10-22mm and 60mm macro and UW ports, one can even get ultra WA and super close-up shots too. 17-55mm won't fit inside Ikelite UW lens port, btw.