Santa's Elf

I'm in the market for a new digital camera for a Christmas present to myself. My Canon Powershot bit the dust in May of 2008 and I haven't been able to afford to replace it until now. It was the end of my last day in Paris, so at least the timing was apropos. And, I can't really hold it agains the camera itself...I was the one who dropped it.

I cleaned out a junk closet at the house this weekend and came across my 35mm Canon Rebel SLR with my big fat Sigma lens. The camera is in flawless condition, and means so much to me....but it's not digital. My parents gave it to me for high school graduation, and it was my constant companion in college to document my shenanigans and a tool for my photography classes. It even accompanied me on my first trip to Amsterdam for a work trip. When I learned how to develop my own film and prints in college, I always thought I would someday have a darkroom and an expensive projector. I think that dream has died with the digital revolution and Photoshop.

So, it's time to buy a new point-and-shoot. My budget is around $300 or less, but I'd like to keep it on the $200 end. I want something that works reacts well to motion, as well as in low-light conditions. Canon is my brand of choice, but I'm also open to Nikon, and maybe some other industry leading brands. And, I'd like a camera that has at least 7 mpx with at least a 4x optical zoom. Lastly, my Powershot was on the large size with a finger grip. I'd like something more the size of a cell phone. Any suggestions? Any warnings?