Yes, your 350D has a multiplier of 1.6x, for all lenses.
The lens you get with it effectively gives a view like a 27-115mm would on 35mm film

So you have quite an overlap on the focal length of those lenses.


Certainly, your image files with the 350D will be larger.
So you will want probably a 1GB memory card. I don't think 512MB cards are worth it today, if you look at the cost of two of those, or one larger card.