Canon EOS 550D / Rebel T2i

The EOS 550D, or Rebel T2i as it's known in North America, slots between the 500D / T1i and Canon's semi-pro range. It actually inherits a number of features from the high-end EOS 7D, including the same 18 Megapixel resolution, same metering system and same movie modes, giving it the choice of 720 or 1080p at a variety of smooth frame rates, not to mention an external microphone input. The 3in screen is Canon's best yet with a wider 3:2 aspect ratio to match the shape of images. The viewfinder, AF, build and general handling are essentially unchanged from the 500D / T1i, but if high resolution and movies are your priority, it's a great choice.

Pros: 18 Mpixels; HD video with mic input; great screen.
Cons: Build quality, speed and AF same as cheaper 500D / T1i.
Overall: The best choice for high res images and movies on a budget.