Newegg has sticks of Kingston HyperX 512MB PC3500 DDR434Mhz CAS 2-3-3-7-1t for $120.00 a piece shipped. Use them myself and they're great! $40.00 over you limit but that's my reccomendation. They also have @ newegg 512MB PC3200 MushkinBlue Line CAS 2.5-4-4 for $101.00 each shipped. That's only $202.00. Same place has Mushkin Basic Green 512MB PC3200 CAS 2.5-4-4 for $85.00 a piece. That's $170.00 and well within your budget. Anything under $100.00 for a 512MB stick is usually CL3. Either you'll have to give up the hope of fast timings(2-2-2-5-1t) or throw in some more $. I just built a machine using Mushkin Basic Green PC3200-2 512MB in dual channel and am very please with it.
I have a gig of corsair xms cas2 and it rocks, well worth the extra money witht he quality and the overclocking ability makes it even better of a deal.
i am using a pair of mushkin 512MB'ers in dual channel mode with low latencies, and they overclock past stock Mhz like mad. i hit 250MHz with them, but of course brought it back down, testing