I just did it.
Got the Nikon D50 with the Nikkor 18-70mm (28-105mm film equivalent) f/3.5-4.5 lens. I'm pretty excited. If I had unlimited funds I might have gone Canon, but the startup costs for a Rebel XT with a decent lens are much higher, even more so because I already have SD memory, and the Rebel XT takes compactflash.
Here's a picture of the body/lens combo:
I can't wait to start using it.