hi there had a quick look on teds and think that the closest to what you are looking for is a Sony Cybershot HX9V
http://www.teds.com.au/sony-dsc-hx9valthough none of the sub $500 cameras seem to use AA bateries any more all lithium ion.none that i saw from info at teds anyway.
16mega pixel only 16x zoom but is equiv to 384mm in 35 mm scale.
memory is on sdhc cards which are avail every where,
fast start up from reveiws i read .under 1 sec
does panoramas
sample images i saw look great for a compact and not spending your life savings on glass.
,and price is near enough to $400.