The 40d would be mine and mine only but the Olympus 500 I loan to our kid's at times. The 40d would not be a loaner by any means. The 500 takes awesome pictures but was going to upgrade only because I am getting a good deal on it.

The 50d is definitely of interest but with it coming out I was thinking the 40d will have a much better price range.

Thanks for the comments/advice, they are greatly appreciated.