It depends entirely what you want to do. Disposable cameras are fine if you're looking for a bunch of photos of you and the gang for your album. The down side is that they use that all-purpose film that's grainy as hell and kills the contrast.
A good point and shoot in your price range from anyone like Canon, Nikon, Minolta or Pentax is a fairly safe bet. Try to get one with a zoom.
Avoid the trendy Advantix cameras. The only benefit of those is to the processors because they charge more. The "panoramic" prints just crop the 35mm film, which most processors can do from standard 35mm film.
If you think you want to be serious about photography, get a starter SLR (single-lens reflex) camera. The Canon Rebel 2000 is a nice little package with a medium zoom. Not only that but if you buy longer zooms you can always upgrade to a higher camera and use the same lenses. These things do auto everything, but for that money you owe it to yourself to get at the very least one of the instruction books for the camera and learn about exposure. I'm tired of seeing yuppies who buy a Nikon F-series camera because it's expensive, but don't know a damn thing about what they're doing.
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Jeff
Webmaster/Guide to The Point
Millennium Force laps: 35