I just bought an underwater camera myself and afterwards (naturally) I started to look for ways to improve it.
The one huge benefit to the camera that I bought (Cfish R1) is that it has a panning camera enclosed in a waterproof housing that allows you to rotate the camera 360 degrees with a hand held remote. You can either have it continuously rotate clockwise or counterclockwise plus you can manually pan it in either direction and you can pause it if you want to look at something specific.
What I found was we can drop the camera down to the top of the weeds or a little off the bottom and just let it rotate continuously so we have a 360 degree view of whatever is coming in from every direction. Then, once you find fish coming in, you grab the remote and dial in the direction the fish are at and jig it in without having to move the camera. On Saturday evening we had a nice walleye come in, probably about a 24"er. It came in from the bottom and the camera picked it up before the flasher knew it was there. My son went to pick up the remote but grabbed the camera cord by mistake and the movement of the camera scared the fish and it took off like a rocket.
So the panners are more expensive but I believe the benefits are worth every penny.
There are several out there, this is an example of what I am talking about.
http://www.navroute.com/nanaezpaunca.htmlAnother thing I saw was some of them have IR lights rather than the white LED's and that may be beneficial at night or to not scare the fish. I have been running with no lights because I have seen them scare the panfish away.