The Nikon D40 is an all new affordable, compact, point-and-shoot digital SLR from Nikon, it follows on from the D50 but at a significantly lower price point and with a subtly different feature set. The biggest news however is probably fact that Nikon resisted the temptation to keep chasing megapixels (hooray for that) and instead appear to have concentrated on what makes a good camera, a decent viewfinder, short shutter lag, very short viewfinder blackout. They've trimmed some of the 'less important features' (you can't change the exposure steps for example) but have squeezed a range of new features such as custom Auto ISO which we welcomed with the D80.