I prefer the altered images. Digital cameras, particularly DSLRS tend to shoot flat images - as you can always increase contrast afterwards, but you can't get detail back. So most digital iimages look best with a bit of a contrast boost. Particular for screen viewing.
The amount of contrast/punch applied to the images does vary between cameras. And certain cameras are well known for producing better JPGS straight from the camera - the Fuji S2 for example. Last summer I ran the digital category of British Society of Underwater Photographers' on the day Splash In competition. As it was the first year for digital we decided, for the sake of simplicity, to not allow any digital manipulation to images. They had to be straight from the camera. What was interesting was that digicam images were inherently more punchy than the DSLR images (from D100s, D70s, S2s, and 10Ds) and a digicam image came 2nd overall as a result.
http://www.bsoup.org...2004/S2004.htmlI think that it is important to consider than some post processing is just part of the process of digital underwater photography. But that is never an excuse for not trying to get the image as good as possible when you are in the water.
Alex