I have a relatively new high-zoom point-and-shoot pocket camera (Sony Cybershot DSC-HX80) which I got for just over $400. It has 30x optical zoom (24-720mm) and 2x digital zoom. It's a good option if you are like me, that you want to document what you see and don't want to carry something heavy around (scope and binoculars are enough already) or anything complicated. It takes good pictures, particularly in good lighting conditions (the Hermit Thrush in the photo section was taken with that camera). It has a view finder (I often have trouble seeing the screen because of glare so that was a big selling point) and takes pictures fast (previous camera had annoying lag) so I'm very happy with it. Doubles very well as a general use camera too (no need for lens changes or anything).
If you want to get into photography more seriously you should of course go with a DSLR.
Just my two cents,
Thomas