I know of one camera that fits that description.
The Kodak - C310 (4 megapixel and no optical zoom).
The Kodak - C330 will cost a bit over $150 but it has 3X optical zoom.
The new Canon A410 is 3 megapixel and 3 X optical zoom and sells for just under $150.
anyone have any ideas? i'm lookign for somethign for my mom, she doesn't need any features or anything, just reliable point n click.