What is the best digital camera in the $300 - $400 range ?

Here are a few resources. The first one would probably best suit your question. I'm a fan of the Canon Powershot A620 for that money, if you include a decent memory card.

http://www.dcresource.com/buyersguide/
http://www.dcresource.com/buyersguide/sh...
http://www.steves-digicams.com/best_came...
http://www.popphoto.com/buyingguide/

http://www.popphoto.com/cameras/3148/top...

get a used professional one on ebay

i have the kodak easyshare z760. i am happy with it.