I have had my Rebel for nearly a year, and I think it's a great camera. There are some things about the camera I don't particularly like (such as the metering), but its image quality is superb! I have taken it to WDW, and it does get heavy by the end of the day. I use a photo backpack, which feels more balanced than a shoulder bag, but it's also more difficult to get to the camera. So I usually leave it hanging on the strap around my neck, and I also hold it in my left hand to ease the weight on my neck. By the end of the day, my wrist is sore. Also, this means I never have both hands free (unless the camera is in the backpack).
Depending on the type of photos you want to capture, your lenses may be heavier than the camera itself. I also find it inconvenient to change lenses at times. One word of caution: if you do buy this camera, be prepared to spend lots more money on lenses. Once you see the quality this camera is capable of, you'll want to get the best lenses you can afford.
Despite all that, I don't think I could give it up for a point and shoot camera. This is my third digital camera, and I was immediately impressed with its responsiveness, with the fast auto focus, and smooth pictures at high ISOs. But there is a steep learning curve.
Now that the 20D has been announced, I think a lot of people will be selling the Rebel to upgrade (myself included). I would guess retail prices will come down, too, so you should be able to find it for a good price.
If you're not familiar with
www.dpreview.com, check out the dRebel forum here:
http://forums.dpreview.com/forums/forum.asp?forum=1031 and be sure to take a look at the early posts to see the kinds of questions and problems people had with the camera at first. There is a frequent contributor in this forum who is documenting his daughter's life with the Rebel. His wonderful photos are
here. Check them out!
Good luck with your decision!