The D40 is here, and we've got an unboxing, and some impressions. If you've forgotten, the D40 is Nikon's latest budget DSLR, and it actually comes in cheaper than what we'd expect. I'd say it nestles in a great little niche, between SLRs and Big Point and Shoots.
It's as small as it is cheap. Yes it is...you're a liddle-widdle DSLR, aren't you! That's because this Nikon's lost the LCD up top that shows settings for exposure. And it loses its built in lens motor, so it can't autofocus except with those lenses using built-in motors. Still, this camera is way less expensive than Canon's budget DSLR, the XTi, even with a lens. (That's $599 vs $799 for the Xti Body only.) Sure, it has 6MP instead of 10, but I'd take the extra stop of light sensitivity (3200 vs 1600 on the XTi) over the extra useless megapixels, anyday. In theory, anyhow.