To be fair, if weight is a premium, one could get by with an all-in-one zoom, such as the Sigma 18-125mm zoom (385g, $289 at B&H) , Sigma 18-200mm zoom (405g, $399), or Tamron 18-200mm zoom (425g, $399). The Canon 350D / Digital Rebel XT body is another 485g, without battery. At the low end, that's 870g (without battery) of carry weight. For contrast, the Canon Powershot Pro1 is 540g (also without battery). and the Nikon Coolpix 8800 is 600g (without battery). Canon's little 18-55mm zoom is a svelt 190g, getting the official kit package down almost to the same carrying weight as the integrated cameras.

Given the choice, I'd go for the D-SLR. It's less clear whether you want Canon's little zoom. For the weight, it's relatively hard to beat. If you're willing to spend more money, and you really want image stabilization, I'd get the 17-85mm zoom that mlord has (475g, $599). B&H puts this in a kit with the 350D for $1400.

Okay, as long as we're talking about cheap Canon gear, how about cheap Nikon gear? The new D50 will (soon) be available as a kit with the 18-55 and 55-200 (both with internal motors, unlike the cheap Canon) for $1150 (540g for the body only, not sure about the lenses). And, they're practically giving away the older D70 kit with the 18-70 lens ($1059, minus $100 rebate, 595g body only) that has been working great for me for the past year.

Also intriguing, particularly if travel weight matters, is the Olympus E-Volt E-300. That kit with a 14-45 and a 40-150mm zoom, comparable to the Nikon D50 kit, costs only $900. The price is less, but I'd probably go for either Canon or Nikon, mostly for the larger selection of lenses and accessories.

In short, it's hard to say whether Canon or Nikon is leading at the very low end of the D-SLR spectrum, but I'd take either one over one of the "prosumer" integrated cameras, and I'd likewise take Canon or Nikon over Olympus (or other vendors), unless price is the dominating factor.