I am thinking of getting my first convection microwave oven but the specs indicate it's only capable of a maximum of 200C in convection mode. Is this good enough for roasting chicken and baking pizza, breads and cakes?
I have two, of which I use one regularly. They're fine for pizza, pasta bakes, pies and casseroles. I haven't tested them for cake but the top of a tall cake would be likely to brown a little fast. That's easily fixed with foil. This is because there's more direct top heat than in most ovens, which won't hurt when you're cooking pizza.
Be sure to get one that has a proper convection mode. Check the manual in advance for instructions relating to metal cookware - if they don't say you can use it in convection mode, don't buy. When you buy it, put it on to convection with some crushed up foil in there. If it sparks, take it back as missold.
Combination modes are useful for some things but not anything you'd call baking.
Convection microwaves are a bad solution for baking. In the worst case, you get one which cannot turn off the microwave part, which means you can forget baking at all. In the best case, you get a compromise solution which is not as good quality as a dedicated tool. This is quite independent of the temperature setting.
If you want to bake, buy an oven. Toaster ovens of the appropriate size and strength (1500 to 1800 watt) do quite well, and are easy to get on a budget. If the dial only goes to 200, that's OK. You won't get optimal results with some breads and pizzas, but for those you need a bigger investment than most home cooks have anyway.
A microwave is a luxury item with limited usefulness (it doesn't do anything that can't be done with a stove, adds a bit of convenience), but if you want one and have the resources (money and counter space), buy it separately from the oven.