I just had this bug too,
I went with the sony wx1
its got hd video, you can zoom in and out while it records,
panoramic shot,
a 10 pic burst shot taking up to 10 pics per second.
its only a 10 mega pixel, but i read up on it, and thats all you really need unless you are gonna blow it up to make posters out of the pics you take.
I got it mostly for the hd video and the burst shots
its 249.99 though. so a little over budget. youll also have to buy a memory stick separately( i didnt know that part) but i got a 8 gig scandisk memory stick for 32 bucks at walmart