tunalover,
NEMA4X and IP68 are sort of equivalent. If your box meets one, it probably meets the other one.
I do not have a NEMA reference in front of me, but I believe NEMA4X is something like a 64GPM salt water through a 1" hose for half an hour with minimal water inside the box, and no corrosion. You should not be able to reach into the box with a 1/4" bar and touch live electronics.
The IP68 reference on my wall specifies complete dust protection, protection against continuous immersion, and you should not be able to contact anything hazardous with anything 1mm diameter. My reference says nothing about the depth of immersion, but I think it is 2m. You are allowed a little fluid penetration.
JHG