Hello...I've just started learning photography....I'm looking to buy a good digital camera...my budget is $200... presently, which is the best digicam for that price?

Canon Powershot 570 IS http://www.dpreview.com/reviews/canona570is/page11.asp
or
CANON POWERSHOT A720 IS http://www.dpreview.com/reviews/canona720is/

Check Fuji as well A900 and A920.

I bought 2 Fujifilm A820 last Christmas for my daughter and my mother. I would have gotten the 570 is but at the time there were $40 more. With that savings I got 4 Gig SD Card and a Charger with Rechargeable Battery. I like the Fuji for its Intelligent Flash and ease of use. Which is very useful for me when I taking pictures with Flash Bulb? Greatly use when taking subjects with the nice background.

However Canon has better image quality and controls with Image Stabilizer.

Here's the review for the FUJI A900. http://www.steves-digicams.com/200 [...] _a900.html

I am also looking for a new camera in the $200 - $300 range. I heard the Fujifilm digital cameras are very good for low light photography, as in less noise at high ISO speeds. Anyone know if this is true?

Just read some reviews on dpreview and some other site, you'll get a better understanding than some here telling you if is true or not. because some are as not informed as the others.

Fuji's Super CCD is better than regular CCD + CMOS but the competation is getting better with their processing so is now it's a close call. Check any review on a particular camera if there's no review, look for a lower model and the replacement model then try them at the store my might get a defferent conclusion.