Can't help you there with the AA batteries, practically all the good cameras have gone to rechargeables.
If you can overlook that, the one I'm using now is the Olympus TG-870 (which, according to Amazon, you should be able to get at or below $300). Quality is decent for a P&S, is one of the rare few "tough" cameras out there with flippable LCD screen, but not much manual control as you wanted. Fits nicely into the back jersey pocket and easy to operate one-handed though.