You can find all the information about the new Canon EOS 40D, my next camera, at DPreview.com. The Canon 1Ds Mark III was also announced at the same time. Nikon also announced new cameras this week, including the D300 and the D3. It looks like a good year for camera owners. Canon's new lenses are the EF 14mm f/2.8L II USM, EF-S 18-55mm IS, and EF-S 55-250mm IS. Nikon has the AF-S 14-24mm F2.8G ED, AF-S 24-70mm F2.8G ED, AF-S 400mm F2.8G ED VR, AF-S 500 mm F4G ED VR, and the AF-S 600 mm F4G ED VR.
It's important to remember that when making a buying decision that you are purchasing a system, and not just a camera. Whether you choose Nikon or Canon, you will be using their system of lenses and accessories for a long time. Switching systems can be very costly.