The PowerShot A550 is a very affordable 7.1 megapixel model with a 4x optical zoom lens and a 2.0-inch LCD screen. It features Canon’s DIGIC II image processor for crisp, vibrant images, responsive performance, and low power consumption. Operating this camera is even easier than before with a redesigned mode dial featuring five of Canon’s most popular Special Scene modes for easier access, as well as standard fully automatic settings.

Steve’s Digicams has done a full review of the A550 here, and had this to say-

"The image quality of the 7-megapixel Large/SuperFine images is impressive, especially when you consider this camera’s affordable price tag.…The A550 is quite the performer, as long as you’re not using the flash.…Canon claims that AA alkaline batteries will allow you to capture approx. 140 shots (LCD on) or 540 minutes of continuous playback time.

Bottom line - Canon’s PowerShot A550 has a lot to offer. With robust performance, great image quality, easy to use exposure modes, 7-megapixels of resolution, a 4x optical zoom lens, and great ergonomics, the A550 is sure to be a very popular model for 2007. The A550 won’t hurt the pocket book either, with a "sweet" price tag of US$199 or less!"

Canon PowerShot A550 7.1MP Digital Camera with 4x Optical Zoom

Featuring
7.1-megapixel CCD captures enough detail for photo-quality 15 x 20-inch prints
4x optical zoom; 2.0-inch LCD display
16:9 Widescreen mode for full-screen viewing on widescreen TVs and computer monitors
Three movie modes including 30 fps VGA and 60 fps Fast Frame Rate
Stores images on SD, SDHC, or MMC memory cards (16MB MMC card included); powered by 2 AA-size batteries (2 alkaline batteries included)

Suggested Accessories
Canon PSC-60 Deluxe Soft Compact Case for Canon A530, A540, A610, A620, A630, A640, A700, A710 Digital Cameras
Canon HF-DC1 High Power Flash for Canon Powershot Digital Cameras