Well, depending on your perspective, they didn't "drop" anything, the Digital Rebel has the same features it always had.
The comparison is to the very similar 10D, but the rebel isn't a "10D minus features", its a rebel. They are similar, they are siblings, but they are different cameras. The 10D has a higher ISO, a bigger buffer (9 shots compared to 4), mirror lockup, custom functions, a metal body, a slightly faster focus system... It's worth the extra cash imo.
I found the Rebel limiting and grabbed a 10D, and I love the 10D, and I am a big fan of Canon. The D70 is a nice camera, but my goal is a 1D Mark II, so I don't miss Nikon.
For me, I have to decide "what do I want to end up with?" Even if I had to start over, I'd go canon, because I'd rather have a Canon 1D and a Canon 600mm IS lens. So if you are looking between Canon and Nikon, I'd say look between the 10D and the D70, not the Rebel. The D70 is by far ahead of the Rebel, it's not fair to compare. In fact, the D70 is atop the D100 probably.
What kind of lenses do you want, what kind of future gear do you want?



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