New Canon Rebel / 500D ?

Rumours suggesting there will be a new Canon Rebel (DSLR entry-level) launched in the next few days... Likely to be called the 500D and the usual form is that the previous model EOS 450D*will linger around at a slightly reduced price too.

Canon's likely approach is to drop-in some specs from the higher-end cameras, so expect to see something like a 15Mp sensor, Digic IV processing, upgraded screen and HD 1080P video mode. They need enough 'sexy features' to ensure a steady supply of beginners are attracted to the Canon range... albeit, such a spec will cannibalise potential upgrades to the 50D.

UPDATE 1

*** an early image seems to suggest an articulated screen, much like many camcorders have...***