What is the best acoustic guitar I can get for around, or under, $200?

Generally you can't go wrong with Yamaha if you want something basic but of quality. But don't expect anything all that nice if you're not willing to go significantly under $200. I have this classical Yamaha guitar that was about $275-300 and I've had it four years, I'm rather happy with it.

Yep, can't beat the Yamaha FG700S or FS700S. The only difference between the two is that the FG is a dreadnought body size and the FS is a concert body size, which is a little smaller.

here is a great deal for the guitar Mikey recommmends

http://www.kraftmusic.com/yamaha-fs700s-small-body...

If you want a larger body acoustic the FG-700s is a good choice

http://www.kraftmusic.com/yamaha-fg700s-acoustic-g...

(I actually bought this one, great deal )

I like the Yamaha FS-700S. Keep in mind this is a beginners' guitar.