I bought the Canon Digital Rebel XTi almost 11 months ago. I am a bit of a shutter bug, and have hopes of being a professional photographer, so a camera that would let me tweak the settings a bit appealed to me. This is an SLR camera, which means the user has the ability to determine shutter speed, aperture, etc. There are also several automatic settings for the camera, including portrait, landscape, macro, action, night portrait, and flash off. If you want a little more control over your settings, there is also an aperture priority mode, and a shutter priority mode. For the hardcore photographer, there is also the full manual mode where you get to pick all settings. Another key feature of an SLR camera is the ability to change camera lenses. Be careful here, it can get very, very expensive to change lenses. The kit lens is ok, but not wonderful.
With 10.1 megapixels, photo quality is fantastic. You can do some serious cropping and still have a nice print.
There is almost no delay on the picture, when you push the button, it takes the photo, and recovery time is less than a second, so you can take picture after picture. There is also a "burst" mode available so you an take a whole bunch of pictures in the blink of an eye.
The rebel comes with a rechargable battery pack, and battery life is excellent. Charging the battery doesn't take very long either. If you want the camera to take AA batteries, there is an accessory you can buy that allows you do use AAs.
Now, for the cons:
This is a more professional grade camera, so you must look into the viewfinder to take a picture. The 2.5" LCD is nice, but it doesn't do picture preview like most point and shoot cameras. It will show you your settings, and will display photos you have already taken.
I know there is a night mode on the camera, but I wasn't that impressed with it. If you have the camera set on the fully automatic setting, it won't take photos in pitch black. My point and shoot camera will flash and take a picture, hoping for the best. The XTi won't do that on the automatic mode.
This is going to seem like a silly con, but there is no video mode. Nearly all point and shoot cameras have a video mode that I think is a lot of fun and very handy. This camera is very fancy and very capable, but don't expect it to shoot video.
It's bulky and heavy. Even with the kit lens, it is not a pocket camera.
To do anything "interesting" with the camera settings, you will need to read the manual.
Because of the high picture quality, the pictures will take up a lot of room on your computer's hard drive. Not a con necessarily, but something to be aware of.
When using the dummy modes, the camera decides on its' own whether or not the flash will be used unless you turn it to "no flash". An earlier canon camera (the G3), had the dummy modes, and then had flash button separately. So, for example, you could do a macro (close up) shot and choose whether or not flash would be used. The Rebel won't allow that.
It seems like nowadays everyone is getting into the SLR cameras. They are really nice and offer a lot of freedom. I don't think they are for everyone. The photo quality is great, and I'm thrilled with my camera. But unless you are going to be switching lenses, messing with aperture/shutter, it may not be the best pick for you. If you are looking for a camera to take on vacation, shoot pictures of your children, take videos, etc, you can get a camera that would suit your needs at a fraction of the cost. If you are wanting to explore camera and photography technique fairly deeply, I would definitely recommend this camera.