Can't add to the pro's and cons above, but even though I have a 5D and L glass as my 'work' kit, when we go out on away days and such forth we take the 400D with kit lens and if room a nifty fifty and the images are pretty good to be honest.
Looking at the images I take now with it, compared to what I took when I first bought it, there is a large improvement meaning that it isnt always about the camera, but how you use it. For the price you can get them for, I would say it's good value for money!