This is one of the things that has been misreported by everyone from BP, the government, and the media. There are wells being drilled all around the world in water depths as deep as 10,000 ft and more. It's not uncommon and has been blown way out of proportion.
The Mexican state run oil company (Pemex) is even drilling in 10,000 feet right on the edge of the US territorial waters. Brazillian oil company (Petrobras) is working their way to 15,000 feet and are even drilling in OUR waters.
Let me ask everyone a question... why do you think the most highly advanced skimming technology resides overseas? Is it because they are more advanced than us? Or, is it possible that they need that technology more than we do? Is it because they have more spills than we do? When was the last you heard about in the GoM?
Back to the shallow water debate... I'll ask one more question. If this blow-out had happened in 500 feet of water instead of 5,000..... How would things have been different? Other than, of course, the fact that the oil would have reached shore in hours instead of days...
Would anyone on this board be willing to sacrifice a diver or two to fix the issue? I wouldn't because I know that a diver couldn't have done anything the ROV's couldn't do. This well had a catastrophic chain of failures that took three months to control. 50 feet, 500 feet, 5,000 feet... it wouldn't have changed a thing except the environmental impact.