I've been very happy with the color, features, and price of Canon point-and-shoot digital cameras. Those Powershot 300 HS ELPH models get excellent reviews and are right at the $150 mark.
My new point-and-shoot is the Powershot SX230 HS. A bit more expensive ($199), but with many more features: built-in GPS, 14X optical zoom, manual focus option, Apature priority and shutter speed priority shooting.
If pocket-carry size is more important than features, go with an ELPH model. The SX230 HS is bulkier and doesn't fit into the smallest camera cases.