Fantastic Sea Wolf

G.I. Joe voyages beneath the sea in his one-man mini submarine in Fantastic Sea Wolf (7460), released in 1975.  A great idea that worked moderately well, the sub can sink or float as kids pump the provided bellows.  A floating "Underwater Viewer" let kids see all the action, in theory.  In practice it didn't work very well.  Danger is provided by a menacing mid-sized squid.  Watch out for his ink, Joe!

Note the price difference in the 1975 Sears catalog (above) and the 1976 wards catalog (below).