waterproof shockproof camera - which one?

[cat-i]

I recently lost my panasonic lumix DMC mountainbike camera (shockproof & waterproof, so i could take it anywhere and use it in any whether and on any track condition)

 

i always carried this one with me because it was small, had good image quality, a brilliant battery life (2 weeks in tibet without recharging) and because it could handle slippery singletrack or rocky descent or the odd rivercrossing.

 

I was looking at replacing it, but at just below 4k, and with so many options available nowadays, i'd like some opinions first:

 

- Is it worth replacing this with a waterproof camera, or maybe rather go for a cheapie, and when it breaks, i replace it? (it looks like i could loose or break around 4 to break even with the waterproof camera)

- What camera are you using, and why do you like it, and what would you change if you could?