I own two Digital Cameras and have owned many Film Cameras before. I have used many different digital cameras from many different manufacturers, including Canon, Sony, Nikon, Pentax and Olympus.

I can tell you that you will currently not find a camera that matches your list of requirements.

You can have Fast, Small, or Cheap. But I have yet to see a camera that does all three well. Not even close actually.

In the small category I personally own a Canon S400. I would currently recommend the SD330 or wait for the new SD400 when it comes out if you want 5MP. The new SD series is smaller and has a larger Screen. All blow your budget.

With a small camera you have a few disadvantages. Your flash is too small and too close to the lens, camera shake, as noted by someone else, and slowness.

Slowness == Slow response time, snow write speed, slow flash re-charge.

Flash too close == unnatural shadows, red eye, loss of detail in objects close to you like people.

You want a fast Camera, you get the Nikon D70 SLR Kit and an external flash. This blows your size, budget though.

I would recommend http://www.dpreview.com for general camera reviews and http://www.kenrockwell.com/tech.htm for some good articles on Digital Cameras. Though he only reviews the SLR cameras.

Good Luck.