Welp, even though I am convinced that the 40d will be updated in September (that is speculation), I have decided to take Canon up on the rebates and purchased a 40d. I would have purchased it locally, but many of the prominant shops appear to have raised their prices significantly after the rebate. That seemed a bit sleazy to me. I purcahsed it from Canoga for about 950.

Cheers
James