I had a chance to borrow a Nikon AW120 recently for a dive where my SLR gear was left at home. For a shallow dive in the Florida Keys, at 20 feet with bright sunlight, this was a surprisingly capable little camera. I could zip it into a pocket in my BC, forget I had a camera with me, and then pull the camera out when I saw a yellow stingray posing. Set at 24mm with the flash turned off and the underwater mode, I couldn't figure out how to change any other settings.
Although I would have liked better sharpness and contrast, I'm actually pretty happy with this picture. It's not publication quality, but I think it's acceptable for web viewing, and certainly the best composed image I have taken of the species.