Freezeproof, Shockproof, Waterproof: The Olympus Stylus 770 SW

So you want your camera to go a bit further with you. You'd like to take a picture while you're outside roaming about during a thunderstorm, or climbing a snowy precipice, or even diving underwater. But digital cameras, while elite gadgets of our times, are mostly fragile things. But wait, there are a few cameras out there that are designed to be high durable like the Stylus 770 SW. This camera is shockproof and waterproof, yet it retains a slim line (it's only 0.78" thick). So is this camera really waterproof, or just water resistant?
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