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Len,
A couple of weeks ago, I had a Tae Kwon Do event with my kids. I popped on the 70-300mm lens on the SLR and was able to stand 50-100 feet away from my kids (you can only get so close when these kids are competing) and get really decent shots including some great close ups. Our Point & Shoot Elf just would have never cut it in that situation.
I can then come home, flip on the 18-55mm lens on the SLR in 25 seconds and take great shots of the birthday party at close range.
I can borrow a very expensive 50mm lens and take artsy shots of my cars if I want too. That lens interchangeability is exceptional for adapting the camera to many situations.
I'm also SO used to the SLR format and getting good shots set up through the viewfinder/lens itself that I kinda hate the display screen on the point and shoot cameras.
My Canon digital is a fine piece of equipment too and feels good just using it. Maybe that's why I like Porsche's too...but it's a factor to me.
My wife LOVES the Digital Rebel SLR too. She prefers it to the smaller point and shoot even though the P&S fits in her purse much better.
Good Luck in whatever you decide!
Jay
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