Canon PowerShot ELPH 115
2.7-inch TFT color LCD with wide-viewing angle monitor; 16.0 megapixel 1/2.3-inch CCD sensor; DIGIC 4 image processor for exceptional performance; 8x optical zoom with 28mm wide-angle lens; 720p HD video with a dedicated movie button; Li-ion battery rated at 200 shots (275 in eco mode); 0.8 fps burst
As far as budget models go, Canon seems to have found a nice balance between price and quality with the ELPH 115. The ELPH 115 uses a 16 megapixel 1/2.3" CCD that produces some pretty decent images and video considering the price tag. There are some features missing, but that's to be expected with a budget model. The 115 does include, however, adjustments for exposure and white balance and several scene modes. Speed isn't an asset though, with a continuous mode of less than one shot per second.