I am forgetting few important points which could have been quiet helpful for making choices. I remember two points in-built memory of camera and second battery used, which type is better I am forgetting so cannot comment, but IMO ones which have mobile phone like battery are better ( cant say whether it is Li Ion or NiMH ones), and third point which I just remembered having pict-bridge port in cameras is a plus.
another model which I found good is Samsung - WB550 and Nikon - COOLPIX L100
Nikon Coolpix L100 is a good camera but doesnt have any any mode changes switch except the shutter button. Picture quality wise, sony H20 is better and also a program and a kind of manual mode. About the Samsung model i dont have much idea. So i still say go 4 Sony one if u are looking for P&S at ur budget.
About the other points mentioned by acewin, i will just differentiate between P&S and DSLR's :
For P&S u will get some kind of inbuilt memory.
DSLR doesn't have any inbuilt memory
Not all P&S use SDHC (High transfer rate cards) for faster and continuous shots.
DSLR's use SDHC cards. Hence u can take advantage of the Burst mode here.
Battery...Hmmm...This is a very difficult field to put my thoughts. Actually, rechargeable pencil batteries are good for some because they are easily available everywhere.
Among Li-on and NiMH batteries go for anything that has NiMH because they don't detoriate with repeated charging. But these batteries need charging and sometimes creates problems with DSLR's when you go on a day trip. U simply cant search 4 camera charging point there. There the pencil cell or rechargeables are great which you can find in any local retail store. Nywaz choice of batteries depends on u i.e. where and what you are shooting. I carry two NiMh batteries for that reason!
Cheers,
Cosmos