Well, it's difficult to buy a guitar that's hard to tell from the best for only $200.
You haven't said what kind of music you want to play, whether you want a solid body, semi-hollow body or hollow body. Do you prefer the sound of single coil or humbucker pickups? What kind of music do you want to play?
For starters, Squier makes some pretty good Fender models for under $200. And they sound pretty good and play pretty well.
Dean also makes some good guitars in that price range. Peavey Raptors, Generation EXPs, or Predators are pretty good. Yamaha also makes a couple under $200 (PAC012). Ibanez and ESP also have some good ones for under $200. Even a Jackson JS1 or JS20.
Just remember you aren't going to get a "great" guitar for $200 but you can get a good one. The Squier Strat that I bought for my son is a pretty good copy of a Strat. I can hardly tell the difference between it and my Amercian Strats. What matters is that it plays well for you and sounds the way you want it to.
My best suggestion is to go the music store and play the ones the have there. That's the only way you'll know if you like that particular guitar. Remember, ALL guitars are different. Even ones that are supposed to be exactly alike will be a little different. And sometimes very different.
Of course, you'll need an amp, too. You can start all sorts of arguments over those.
EDIT: Oops, wrote EXP instead of ESP.