I will have about $250 in an Olympus D 370 digital with one of Brian's completed boards (2) 32meg smartmedia cards and 2 sets of 4 rechargeable NI-MH batteries all stuffed into one of ****** metal first aid boxes with a 36mm UV filter on the shutter. If you are not familiar with the features on Brians board you night drop him an email, ask for his instruction document he sends out when you purchase a card. Don't think you can beat that for the price... (my opinion)
I'd agree with LW and vman - at this point I'd go digital. There are a few compelling reasons to stay with film though - long batt life for extended field use, apparently much better low temp range, easy to integrate a simple slave flash setup, and other reasons which my morning brain can't remember.
So - if I wanted top of the line "point & shoot" 35mm - I'd go with the Yashica T-4 or similar. The ability to use 800 speed film is great - and if I remeber right it has a top mounted view-finder - very nice feature! For the price, the OWL PF is a great cam though.