A Leupold VX-1 in most power ranges with a standard duplex is $199.
Well they were last time I looked, I see they are $229 now.
Leupold upgraded their entire lineup in January of this year. All lines of scopes are better than last years models. I paid $199 for one a couple of months ago and it is by far the best $200 scope I've tried.
In the under $200 range I like the Redfield Revolution or older Burris FF-II if you can find one. I do not care for the newer Burris E-1. The Nikons aren't bad and have thier fans, but have some features that are a deal killer for me. Same with Bushnell. The Vortex Diamondback is a $200 scope that has good features, but once again a few that rule them out for me. Others like them.
If you can squeeze $30 more into your budget the VX-1 is really well worth the extra money.
I'd stay with a lower powered scope. More X's equal more money, as do large objectives. In your price range you will get more scope for your money with a 3-9X40. A 4-12, especally with a 50mm objective selling at the same price will be a much lower quality scope. Buy quality, not X's.