For $299-$349 you get a waterproof, dustproof, shockproof pocketable 108060p AVCHD camera with optical zoom and optical stabilization (and active mode).
How does it compare to the Sony GW77? It takes much better real 16 megapixel stills, is more robust in the waterproofing (much greater depth possible), more robust to dropping, smaller and crushproof. You also get WiFi, so you can do remote viewing and controlling, and time-lapse stills/video. Both have GPS, the TS5 uses GLASNOSS and GPS and has more detailed maps for more countries. The sensor of the TS5 is larger: 1/2.3" versus 1/4.1" for the Sony.
The lens is slower and the zoom is only 4.8X as opposed to 10X and the LCD is lower resolution and not touch screen, but more viewable in sunlight.
Here are two example videos:
Columbus Circle Fountains, with no worry about getting in close:
Followed by rain, but no worry, since the TS5 is waterproof. You can set the stills to be 16:9 so the in-camera made movie would then be widescreen. But I did not. Again, the camera made the 1920x1080 30fps movie from the set of 800 still photos at full resolution (16 megapixels). The interval between photos was 10 seconds. About one-third of the battery was left after the 800 shots, so probably one can get 1200 or more stills. With 10-second intervals that would be about a 40 second 30p movie.