My Brother has a Canon Powershot SD400 "digital elph"
i would HIGHLY reccomend it, he takes some VERY good pictures with it, and it has decent resolution (i think). very small which is good cause you can keep it with you all the time, for around school/college.
he's never had any problems with it.
However it uses a rechargeable battery (not sure if you prefer that or one-use duracel or whatever)
i'm not sure that it's under $200 but deffinately worth it.