this guy knows what's up.
i just got an s90 for my girl and it is awesome. it's a great camera for people who have a clue about photography but don't want an slr or s big huge expencive g11 with a stupid screen that flips all around begging to be broken right off the camera.
10mp (it's got a slightly larger sencor than the previous models which is how it achieves better quality than the 14mp predicesors), manual mode, big screen out back, hidden flash, compact, decent at high iso's, and here is the kicker... lens is f2.0-4.9 which makes it one of the best point at shoots in low light currently in production.
granted it's about 70$ over your budget i think it is more than worth the money.