I currently have a Canon PowerShot S110 (was replaced by the PowerShot S200 ) and they also have s300, s330 as well. Seems there's a new one released every day.
Someone who had mine said that the PowerShot s30 or s40 was better, though those two hit the top (or over) of what you want to pay (s200 I mentioned before runs about $350).
I like them due to the size and features, but if you weer to go Canon, I'd probably get the s30 and sacrifice the size. Mine is as big as a pack of smokes, but the quality and the movie mode is better on the s30 than mine.
I'm pretty sure you can get as good quality (if not better) for less with another brand, but you have to decide what is important to you. Size, resolution, features, movies, etc., all play an important part. All nowadays are decent quality, even the sub-$200 ones.
I've got a Canon Powershot A10 - I forget how much I paid for it, was something like A$700 (~US$384.30 at current exchange rates).
Great camera with good quality - there are some photos I've taken with the camera at http://www.shaunewing.com/photography/city/index.php if you want to take a look (the original images aren't grainy - the slight grain you can see is the result of the watermarking process).
I just wanted a reasonable camera to take some snapshots with - so the Canon was perfect for me (it's 1.3mpixel). Depending on what you want to do with a camera will depend on how much you spend, etc.
I've had the camera since February so I'm not even sure if my particular model is still sold. There is probably something better out now