Next year is going to involve a couple of weeks in Fiji and I'm looking at options for underwater photography. I'm not looking to spend loads, but I do want to be happy with any shots I get and I'd like something that isn't going to take up too much room in my camera bag or luggage. It looks like my options are:

a waterproof basic point & shoot
a slightly better point & shoot with a housing
a housing for my canon 650D
a Dicapac bag for my 650D

I'd really love some feedback or suggestions from anyone with any experience or who has faced a similar situation. I like the idea of something small so that I don't lose the space needed to take the 650 (plus I'd have to make sure the one of the lenses fit in the housing or bag), on the down side I would have no option to shoot in RAW. I'm undecided whether that is a deal breaker or not. Help!