You get a lot of camera for under $200 with either of these new models. The A550 is a 7.1 megapixel compact with a 4x optical zoom lens and a 2-inch LCD screen. It has a DIGIC II processor under the hood and tons of features. Suggested retail will be $199 US.
The new PowerShot A460 digital camera features 5.0 megapixel resolution with a 4x optical zoom lens and a 2-inch LCD screen, up from 4.0 megapixels and a 1.8-inch LCD screen on last year's PowerShot A430 model. It also uses the DIGIC II processor, and will retail for $149 US.
You can get more information from the official Canon press release. But based on the specs, stellar track record of this line of cameras, and competitive pricing, these cameras should be very popular.
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Most Canon cameras are good value for the money and I think the A550 should be the same. I think it is worth the price difference with the A460, which is only 5.0 megapixel.