I purchased the Dericam M801W. I had heard good things and it comes with true Optical zoom. Here is a link to one of the many reviews out there.
http://www.dannyvanmaanen.nl/?p=965&lang=en
Price was good at $115 from eBay. Mine has the IR cut option. I don't have it running in the fish room yet, but my tests before moving were awesome.
The Dericam site is down tonight...not sure why. Hope this helps.