Ive had it now for about 5 days and Ive looked it over a few times. It looks and feels exactly like an XSi, with the exception of the following:

– Dedicated Movie Selector on the Mode Dial (A very Nice Improvement over the 5DII video selection) (Check it out above)
– Same built in microphone and speaker system (or so it seems), MINUS the 1/8 input jack. What this means is you are stuck with the camera’s built in microphone for your audio. Boo!
-There is a little red dot on the back, substituting the Direct to Print Button as the Live View/Record Video feature.

Thats it! It is essentially a 50D in an XSi body with many (but not all) of the 5DII’s video features. It also only shoots at 1080p at 20 FPS which is weird, yet manages 720p at 30fps.

Seems like Canon held back just enough to make you want to upgrade. I think this was a mistake, but I understand why they did it: They don’t want to create a product that would out compete the “60 D” or whatever model they come out with. Expect that model to be very, VERY nice.