I have an Olympus 5050 digital. It can be shot in full manual mode and offers just about everything you could want from a camera (whether digital or SLR). The major drawback to it, IMO, is shutter lag. With an SLR the picture is taken instantly. With most digital cameras, there is some amount of shutter lag. This basically means that it can take up to a few seconds AFTER pressing the button for the picture to be "taken".
The new digital SLRs solve this problem but are very expensive. Most of my shots are underwater pics, so there's a lot of room for error. Lighting, backscatter, keeping the camera stable, etc are big issues and quite a few of the pics I take are doomed to failure before I even trigger the shutter. This makes digital the best route for me since I don't have to wait to see what the developed photo looks like to make adjustments. Being able to quickly view the finished product on the LCD screen, make adjustments to settings, positioning, lighting, etc while I'm on the dive means not having to go back later to reshoot subjects. Obviously, this also saves money on development costs by allowing me to just have the good shots printed.
One other positive is the capacity of digital. With film cameras you are generally limited to 36 to 38 pics on a roll. With my camera using a CF memory card and an xD card (the camera can hold both at the same time) I can take well over 200 pictures with very good quality.
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