Canon today dropped the price of their popular Canon Digital Rebel XT digital SLR by $100. The suggested retail price for the XT is now just $599 for the body only and $699 for the body plus the standard EF-S 18-55mm lens. The recent introduction of the camera's successor, the Digital Rebel XTi (400D), and the announcement of the upcoming Nikon D40 budget DSLR (price set at $499), are likely reasons for the sudden price drop.