In reply to TobyA:
If you were happy with the Lumix, the LX-3 (or 5) might be in your price range.
I had the Tough something and to be honest, the quality of the pics was utter shite...
Way over your budget, but Lumix GM-5 with a nice pancake lens is the one camera I'm lustin' after for climbing and skiing and such. Full MFT and still compact enough to carry around. Good selection of lenses to boost (and out household already having 2 MFT bodies, we do have a reasonable selection of lenses).