As I reported here last month (Rebel XS rumors), the Digital Rebel XS is real and Canon have officially released information on it. The Canon EOS Digital Rebel XS will be known as the EOS 1000D outside the USA.
It appears to be something of a hybrid of the Digital Rebel XTi and Digital Rebel XSi and looks like it will be sold for around $200 less than the XSi, though at the time of writing Canon USA haven't officially announced a price. I'm guessing the XTi will probably be dropped from Canon's lineup, though I haven't yet seen any official comment on that yet either. Canon USA's website still shows the XSi, the XTi and even the XT as current models - and they haven't added the XS yet.
According to one report, this week's annoucement was a non-specific global one just to let everyone know about the camera. Canon USA reportedly won’t announce specifics about the U.S. versions pricing or availability until July 8. Best guess on the price is probably around $600 (more likely $599.99) for the body and $700 (more likely $699.99) for the kit with the 18-55IS lens.
Canon Japan now have a page on the 1000D - http://web.canon.jp/imaging/eosd/eosdigital5/index.html
Overall I'm not really quite sure of what to make of the Digital Rebel XS. Obviously it's aimed at users who don't want to pay the price of the XSi ($800), though at only $200 cheaper ($550-$600?), it's still far from the cheapest DSLR on the market and some of the competition offers body based stabilization included in the price.
For example the Pentax K200D 10.2MP Digital SLR Camera with Shake Reduction plus 18-55mm f/3.5-5.6 Lens sells for around $675 - and it doesn't ever need an image stabilized lens. Presumably the Digital Rebel XS will be offered with the EF-S 18-55/3.5-5.6IS kit lens for a price somewhere around $650-$700, but to get stabilization, you have to buy stabilized lenses (if they are available).
I guess basically, the XS is an XTi with Liveview added, and it looks like it will sell for around the same price. You can get a Digital Rebel XTi with an EF-S 18-55/3.5-5.6 for around $685. If the XS sells with the IS version of the kit lens for around the same price, then it's a decent alternative. I had thought Canon might make the XS a real "entry level" DLSR with a price closer to $400, but I was wrong!
Here are the most complete specifications I've found so far:
|Imaging Sensor/Effective Pixels:||CMOS / 10.1MP|
|Effective Sensor Size:||22.2 x 14.8 mm|
|A/D Resolution Power:||12-bit|
|Colour Filter Size:||RGB Primary Colours|
|35mm Focal Length Equivalent:||1.6x|
|Image Recording :|
|Medium:||SD / SDHC Memory Card|
|Large / Fine:||3,888 x 2,592 / Approx 3.8MB|
|Large / Normal:||3,888 x 2,592 / Approx 2.0MB|
|Medium / Fine:||2,816 x 1,880 / Approx 2.3MB|
|Medium / Normal:||2,816 x 1,880 / Approx 1.2MB|
|Small / Fine:||1,936 x 1,288 / Approx 1.3MB|
|Small / Normal:||1,936 x 1,288 / Approx 0.7MB|
|RAW:||3,888 x 2,592 / Approx 9.8MB|
|RAW & JPEG Simultaneous Recording:||Yes|
|Dioptric Adjustment:||-3 to +1 dpt|
|Interchangeable Focusing Screens:||No|
|Shooting Modes:||12 standard modes|
|Metering Modes:||Evaluative, Partial, Centre-weighted|
|ISO Speed Range:||ISO 100-1600|
|Exposure Compensation:||Manual, AEB ±2: 1/3- or 1/2-stop increments|
|Shutter Speed:||1/4000 sec - 30 sec, X-sync at 1/200 sec|
|E-TTL II Autoflash:||Yes|
|Built-in Flash / Guide Number:||Provided / 13|
|Shooting Speed:||3.0 fps/514 shots max burst (JPEG)|
|LCD Monitor:||TFT - 2.5 inch|
|Start Up Time:||0.1 sec|
|Integrated Cleaning System:||Yes|
|Live View:||Yes (Live & Quick AF Modes)|
|External Interface:||Hi-Speed USB, mini B port /|
|Video OUT (NTSC/PAL):|
|Remote Control Terminal:||Yes (RS-60E3 compatible)|
|Battery:||Lithium Ion LP-E5|
|Chassis Material:||Stainless Steel + Engineering Plastic|
|Dimensions (W x H x D) mm:||126.1 x 97.5 x 61.9|
|Weight excl. battery (g):||450|
Note: Canon Japan have now published a little more detailed spec sheet at http://web.canon.jp/imaging/eosd/eosdigital5/specifications.html