Canon's EOS Rebel XS

updated 7/8: Today, Canon USA announced pricing and availability for the U.S. it looks like the company's only selling a kit version, with the EF-S18-55mm f/3.5-5.6 IS lens, for $699.99, and it's slated to ship next month.

(June 9) Say what you will about the rumor mill, it frequently comes through. In this case, except for the small detail of when it would be available, rumors about the Canon EOS Rebel XS turned out to be true. However, instead of waiting until Photokina to announce it, Canon debuted the new entry-level dSLR today.

The new Rebel, which replaces the XTi as the baby of its dSLR line, retains the 10-megapixel CMOS and 2.5-inch LCD, while moving up to the body of the more recent XSi. However, it also uses the newer Digic III processing chip--albeit with 12-bit processing rather than the XSi's 14-bit--so we expect to see some differences in photo quality, especially at higher ISO sensitivities, compared with the XTi. And the XS will ship with the image stabilized version of the EF-S 18-55mm lens; the XTi currently ships with the non-IS lens. The camera also adds Live View mode and, according to Canon, will have improved battery life.

Check out our preview video and comparative specs after the jump.

For the new camera, Canon is shifting from the nine-point AF of the XTi, however, to seven-point AF; the company says it provides a significant cost savings. We won't know if it will result in a tradeoff in autofocus performance until we get it in to the lab, though. Regardless, it still looks like a significant threat to its primary competitor, the Nikon D60, which only has three AF points.

Here's how it stacks up:

	Canon EOS Rebel XSi	Canon EOS Rebel XTi	Canon EOS Rebel XS	Nikon D60
Sensor	12.2-megapixel CMOS 22.2 x 14.8 mm	10.1-megapixel CMOS 22.2 x 14.8 mm	10.1-megapixel CMOS 22.2 x 14.8 mm	10.2-megapixel CCD 23.6 x 15.8 mm
Continuous shooting	3fps 53 JPEG/6 raw	3fps 27 JPEG/10 raw	3fps unlimited JPEG/6 raw	3fps 100 JPEG/6 raw
Viewfinder	95 percent coverage 0.87x magnification	95percent coverage 0.80x magnification	95 percent coverage 0.87x magnification	95 percent coverage 0.80x magnification
Autofocus	9-pt AF	9-pt AF	7-pt AF	3-pt AF
Live View	Yes	No	Yes	No
LCD size	3.0 inches	2.5 inches	2.5 inches	2.5 inches
Price (before rebates)	$699 (body only); $799 (w/ 18-55mm lens)	$599 (body only); $699 (w/ 18-55mm lens)	$699.99 (w/ 18-55mm lens)	$599 (body only); $699 (with 18-55mm lens)
Availability	Now	Now	Now (outside of U.S.); August (U.S.)	Now

Like other Canon entry-level dSLRs, the XS will be available in black or silver, and each in a body-only or kit version. The EOS Rebel XS is slated to ship a bit earlier overseas than it is here, and Canon hasn't quite finalized pricing. It should be in the same ballpark as the XTi is now, though. In conjunction with the XS announcement, Canon is also rolling out a new version of its lightweight flash unit, the Speedlite 430EX II. It's designed to work in conjunction with the newer models for displaying flash data on the camera screen, moves the physical master/slave switch into the menus, and now sports a metal foot rather than plastic. The flash will ship at the same time as the camera, and be priced $329.99, the same as its predecessor did at launch.