I've had both these things happen to me. The first was deleting an old save and losing the lot - how cr*p is that? Why didn't they warn us? Why offer the option if it's going to screw up all the saved games?
I've also had the "dropping like a stone until you're all killed" effect as well, and I wasn't submerged when I saved either.
I'm carrying on with the game, but honestly these bugs suck!!