The TS said he's on a budget. A good HD videocamer would set him back much more than a good HD DSLR camera. Unless he plans to shoot weddings with long speeches, this is the most practical thing to do.
I would also suggest to the TS to consider a good HD videocam (instead of a HD DSLR), and retain his Nikon D40. I was also in the same dilemma last month. I recently got a Panasonic DMC-TM90 for less than 20k, way less than the 45k budget. That way, you won't have to change your DSLR system.
To the TS: What do you plan to do with the camera? Do you need fine controls for focus, color, white balance etc. like what professionals need? Or are you looking for a camera to just shoot family videos?
A memorable event would surely beckon you to take both photos & videos of the occasion. You would need both a video cam & a digicam. In my case, I use my LX5 to record videos while on a cdrking tripod, then move around taking photos with my DSLR. And yes, I still love the photos I took with my old D40 - no need to upgrade unless you REALLY NEED what the higher models are offering. May I suggest the same: retain your D40 then invest in your preferred HD videocam. Though it has only 720p HD, I like the LX5 for its wide-angle, lowlight, & focusing-while-zooming-in-video-recording features. Caveat: AVCHD needs to be imported directly to iMovie using the LX5 cable to allow movie editing. Otherwise, AVCHD files will not drag&drop to iMovie.
@OP since I've read your other threads, I think I have an idea on where you're going to use this - (i.e. filming yourself singing and posting em on YouTube - and/or for other personal use) ^that said, I'd reckon a Canon 7D or yeah, a 60D for Videos, go for a Canon (take it from a long time and still Nikon user) BUT, if you plan to take creating videos to a higher level, get a camcorder - something like a JVC Everio.
I'm gonna use it mainly for shooting films. The JVC Everio's quite cheap, huh? Will put that one on my list as well. Thanks for all the input, guys! The D40 is surely an oldie but still a goody! I might "give" it to my cousin since I don't want it to leave our family just yet. Ha ha.
Go instead for d90, i've had this dslr for a year now and its been giving me justice whenever i capture pictures and videos so that i can reminisce abot the happy and wacky moments
Get a Sony HDRPJ10. I have one. It records full 1080p video, has 30x optical , and has a built in projector if you intend to show your video to your friends sans the TV.
yes Chris, Canon indeed has better video. 60D? if you have enough cash, then yes, otherwise, just get the 550D. it will do just fine. ;-)
I attended a (free) camera work shop and the instructor told us that (non-video) Cameras has a max video capture of 29mins only... Can anyone confirm this limit...