The only perk to the S95 is that it can do RAW image files, which has more flexibility if using photo editing software. You still have to get a housing for it and its 10mp. The DC1200 was designed for diving, is 12mp, and comes with the housing for $450 at most diveshops. I got mine for $350. If I could get the S95 with a solid housing for around the price of the DC1200, I would. I do a lot of editing and retouching, and the RAW image file would make everything so much easier.