Well, I don't have a 40D for comparison, but I used to own a Digital Rebel(original) w/kit lens and an EOS 10D w/28-105 USM. Both were purchased used in almost new condition from a liquidator and a private owner, respectively.
After awhile I started looking to expand my lens selection and upgrade to a higher resolution camera body, but since Canon equipment was marvelously expensive I felt for what I was getting, I wasn't sure that I wanted to continue with Canon. It wasn't that there was anything especially wrong with the Canon gear, I just wasn't sure I wasn't getting something for the extra money Canon charged. I looked at Nikon equipment and pretty much felt the same way about it. About this time Sony released the Alpha A100, and I had some old Maxxum lenses in the closet, so I could actually make money by selling the Canon gear I owned and buy a new Alpha A100 body and use my existing Maxxum mount lenses. So I did that, but I was never very happy with images shot above ISO400, and sometimes even at ISO400 I wasn't please. So I decided to upgrade when the A700 was announced. Then I saw the price on it, and decided that Canon, Nikon and Sony just aren't worth the extra money to me. So after three months I decided to sell the Sony since there wasn't any way for me to upgrade practically, and switch to Pentax(I had Pentax P3 body, 50mm and 135mm from awhile back) and see what they could do for me.
I now can't understand why people buy anything else. I handled a Nikon D40 (before buying the Samsung GX-1S) and, much like the Digital Rebel, the Nikon puts me in mind of the disposable 35mm cameras they sell in the drugstore. It seemed overprice for what I was getting, much like the same complaint I have against Sony and Canon. Not that there's anything technically inferior about the other brands, but it seems like I get more for my(evershrinking) photo hobby budget with Pentax/Samsung.
I bought a Samsung GX-1S(basically the same as an *ist DS I think) on sale. I later caught the K100D on sale and added it to my camera bag since it had shake reduction. In my opinion these two 6MP models were better made and more fully featured than anything in their price range and produce excellent images. Yes, they are 6MP, but the images look great, so I don't care.
Finally I decided to upgrade to the K10D. It had been on my mind for awhile to upgrade, and then the price dropped a short time ago(before it rose again to almost the price when it was released two years or so ago) so I decided it was time. It meant that I had to sell the GX-1S to raise some money to add to what I already had to spend, and as much as I liked the GX-1S and wish I still had it sometime, I like the K10D more and it was worth the sacrifice. The images I get from the K10D are certainly as good or better(most of the time better in my opinion) than anything I could get out of anything else I've owned. And I could afford it, which made it even better. I've added an AF360 flash(which again, I think provides more features than anything else in its price slot), and finally a DA* 16-50, which is FANTASTIC. I personally think, and it's only my opinion, that you can't get a better value from anyone in the DSLR market right now. I don't think I'm necessarily a "fan-boy", I won't tell you that the K10D is "better" than the 40D or D200 or D300, but I think it's capable of producing images that are as good, and is a better value. The K20D might be different story, I believe I could make a case that it is better than the 40D, A700 and at least the D200, and maybe the D300.
Frankly the K10D produces images that are really limited only by my incompetence(which may be considerable). And I'm definitely pleased with Pentax products quality as well as the value. Since I bought the K10D, I've never looked at Canon, Nikon, Sony, Olympus, Panasonic and wished I could get something else. Which is something I did frequently do when I owned Canon and Sony. (Okay well maybe I've LOOKED at the DMC-L1, just because it's classy).
Now I also should say that I have always been interested in post processing to make my images look better, so I don't expect any camera to produce a .jpeg that will meet what I want, and this is one of the most common criticisms you will hear about Pentax. The funny thing is, I do occasionally shoot .jpegs for newsletter use, etc., and I can't find anything much to complain about with in-camera jpegs, so while this is not an issue for me, this may or may not be an issue for you. The other complaint is that Pentax isn't a "PRO" brand, whatever the definition of that is. My answer is, I don't care. I could just barely afford the excellent Pentax gear I have now, and couldn't have afforded it at all from Canon, Nikon and Sony.
Also before plunking down your entire budget, you might look at a K200D and either the DA* 50-135 or if you really wanted to cover your bases to start off, a K200D, DA16-45, and Sigma 70-300 4-5.6 APO(the images I get from mine are great and if you like the feel of a well made lens this one has it). Not as spendy, you could even buy some useful accessories such as a battery grip and flash unit to round out your gear bag.
Last edited by brothereye; 05-14-2008 at 09:22 AM.