I have been using an old Casio Exilim for a few years and decided that I should have something better, but still in the point-and-shoot form factor. I took three years of photography in high school and was reasonably good at it (well, at least in black-and-white), but have done nothing serious at all since then.
My primary short term goal was a camera with good indoor, non-flash performance. That means being able to set the camera at a high ASA setting without causing too much speckling. a friend pointed me to an article than sings the praises of the Fujifilm FinePix F30. It sounded cool, but I wanted a more recent camera in case I needed repairs. The current successor to the F30 is the F50. The review at Digital Photography Review went on and on about how wonderful the F30 was and wasn't it sad that companies have to keep upping the megapixel count, but copped to the fact that the F50fd's performance is essentially as good as the F30. So, with Amazon $200 richer (I also bought a 2 gig card and a spare battery, each in the $30 range), I have a new camera.
It worked pretty well for its first real assignment. The no-flash option worked kinda OK inside, but isn't really reliable, as one would expect. The flash worked fine. A few of the no-flash pictures, when enhanced with the "Exposure" control in iPhoto, came out looking quite respectable. The camera handles easily, the number of options is high enough to keep me happy (although I would love a "just set it at this speed and this f-stop" option), and it is quick to start up. The manual was quite complete and well-organized, particularly compared to the manual that came with the Olympus my mother bought for herself last year.
All in all, if you're looking for a $200 point-and-shoot, the F50fd seems like a winner.