Our "family" camera is an EI-200...2 megapixels and just a small zoom range above the camera you bought. We love it and use it regularly and choose it over a Pentax 430 RS, K100D or K10D for family snapshot stuff.
You mention Holga-like resolution, I presume you mean actual lens distortion, low contrast, lots of ghosting? The EI-200 shoots surprisingly sharp. I even sold one image that was used in two different company's national magazine ad campaigns, corporate brochures, blown up into banners etc. Not Holga-esque at all.
Can you post something from that camera? Just curious.
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