$200 budget, you should stick to a cordless L-ion impact driver (1/4").....I have the Makita one that they sell at Home Depot & it works great for anything 12mm & less.
I have been using the Milwaukee M18 Fuel 2763-22 for the last week & it is a BEAST!!!! Funny thing is, Ingersoll-Rand upped the torque ratings of the W7150 after the M18 Fuel was released....they didnt change anything, they just changed the advertised ratings.
I took off 2 different Honda Crank Bolts today with my 2763-22 with ZERO hesitation.
The IR W7150 & 2763-22 have "real world" forward torque of 900 ft lbs.....advertised 700 ft lbs. And nutbusting reverse torque of 1,100 ft lbs.
Watch the test vid here --->
The reason I went with the Milwaukee Fuel, was the extended battery life; the versatility of the battery packs with other products; the LED light on the front; and the dual-mode forward torque (100 & 700 ft lbs).
Here is an unboxing video I did last week --->
You will pay $429 or so for the M18 Fuel 2763-22 w/2 batteries, a charger, and a case.
I would suggest you either save more money to get the M18, or just buy a high-end pneumatic 1/2" impact. The best value on the pneumatics is this --->
http://www.amazon.com/dp/B007K9388U/?tag=atomicindus08-20
The Chicago Pneumatic CP7748.....1,200 ft lbs reverse nutbusting torque. Forward torque is way over-rated since you will NEVER need to torque anything more than a couple hundred ft-lbs.
I own the IR 2135qtimax & IR 2135qtimax2....if I didnt, I would buy the CP7748.