Everything is a Compromise
This would give you the best image quality for under $300:
HUGE sensor compared to a point-and-shoot camera.
Faster performance compared to a P&S.
None of the gadgets you want; no GPS, WiFi, or automatic panorama mode.
FYI, flash on any camera is weak. It's fine for people pictures, but you can't use it for night shots of the city. That requires long exposures, or in-camera image combining technology, such as Sony's Handheld Twilight mode. Bear in mind that a long exposure will be higher quality, but a combined image is "good enough" for viewing on a computer or for small prints.