If you could up the budget ever so slightly i'd say go for a Panasonic Lumix TZ5, there are loads on ebay buy it now for 159.99 which includes a 4GB SDHC card. This camera has quite a wide angle lens with it and you can also record 720p HD video @ 30fps, which is handy for trackdays etc

The Panasonic Lumix TZ5 is my walkabout camera on holiday etc when i cant be arsed to carry my Nikon D90 DSLR and kit bag around.

more about the camera on the link below

http://cgi.ebay.co.uk/PANASONIC-LUMI...d=p3286.c0.m14