Bell has released the entry level Android HTC Wildfire S today. This will run you $249.95 on a no-contract and goes all the way down to $29.95 on a 3-year. For a low cost Android the specs are solid: OS 2.3, a 3.2-inch Super LCD touchscreen display (320 x 480), 600 MHz processor, 5 megapixel camera with LED flash and video capabilities, Wi-Fi, GPS and holds up to 32GB with a microSD card. In addition, you have a choice of getting a black or white Wildfire S.
More here at Bell