Rated this 4 out of 5 from a photographers point of view since I saw few penguins, wasn't able to get good photographs of blue footed boobies on land or diving, couldn't get good shots of flying frigates. Land and marine iguanas were extremely numerous and easy to photograph as were the land tortoises. I opted for good weather (we had rain only briefly on one day) but sacrificed a few wildlife opportunities.
Cameras: In spite of what you read, the longer the zoom the better. Use burst mode for shooting birds in flight.
Landings and foot-wear: Closed-toed sandals are fine for all landings and walks but wear socks for odor and blister prevention. You'll have time to dry your feet after wet landings though not always with a place to sit. I brought a small wash cloth though towels are provided for drying feet. I think it unnecessary to bring a water proof camera bag since wet landings are in very shallow water for just a couple of steps and help is always available getting in and out of zodiacs. I didn't hear of anyone getting dunked.
AVOID 401 AT ALL COSTS unless you are alone. We always have a veranda but found the ocean view fine since we spent very little time inside the cabin. The small ship experience was wonderful since we all felt like one big family.