I have one of these, and I like it.
Like mentioned, it isn't the best in low light but the pictures will look as good as any other point and shoot in those conditions. The lens needs to be carefully cleaned after submersion so that it doesn't make all future pictures blurry (from smudges or scratches). And you have to be really careful to make sure the seal to the battery and memory card compartment stay clean so that it actually seals. The last two points will be true for any shock/water/dust proof camera.
One more thing. For most all these type cameras that say they are drop proof from x feet. Typically that test is onto plywood suspended over air (read: hard, but bouncy surface). They are not necessarily shock proof onto concrete or asphalt from the same height.