If you will be using the coax or optical output, the quality of audio will depend more on your receiver than on the DVD player. If you will be using the analog output, you're going to have to do some research. I think most if not all DVD players claim to cover the full range of human hearing, but some clearly have better digital to analog converters. Denon products are generally known to have excellent DACs. You might look for a product with Burr-Brown output stages. Sorry I can't be more specific.
The Marantz DV4500 is a very good DVD player but it is a bit over your budget at 299.00. I have tried lesser DVD players and found them lacking. But if you must go less expensive than that I would look at Toshiba. Toshiba has DVD playes for under 100.00 that outperform many more expensive units.