Under $200:

In this price range I still recommend that you go for a porro binocular of moderate magnification.  

The sub-$100 Leupold Yosemite is still a fine choice as is a slightly more expensive Vortex Raptor 6.5×32.  I generally appreciate the ease of use and carry that these smallish binoculars offer.  Besides, they are simply easier to build on a budget.

If you want a full size binocular of higher magnification, Pentax PCF WP II 8×40 offer good performance for the money.