For $200 you're going to have a tough time finding an eInk device to do this. The Inkpad 3 doesn't support styluses other than those cheapo rubber dome capactive ones that mimic a finger touch. If you're just highlighting that might be okay but they suck for writing.
How well you can read a full page PDF on an 8" screen depends on your eyesight. I can, I'm fine with tiny text and the screen is sharp enough to do it. If you have trouble with small text though you probably won't have a good time.
I have the 7.8" Boox Nova 2 and 10.3" Note Air. Both hit all your requirements but are outside your price range. Boyue Likebook has similar models that are a bit cheaper but still above your budget and they discontinued their 7.8" eReader with stylus support. The only ones I know of at the moment are the Boox Nova 3 and Supernote A6X and they are north of $300.
Some companies to take a look at are Boox, Boyue Likebook, Remarkable, Supernote and Kobo. I think you'll struggle to find anything new at $200 as that's even a tough price to get something with a pen included with an LCD tablet.
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