Canon has long catered well for the entry-level digital SLR market. Canon's EOS 300D was the first digital SLR available for under £1000 and as technology has advanced, its cameras aimed at this market have been made cheaper and more compact, whilst still sporting a decent array of features.
In fact, the features on offer with this camera's predecessor, the EOS 1000D, were so good that Canon hasn't felt the need to replace it for around three years. This is quite a long stint for any digital camera in Canon's range, as most are tweaked or overhauled much sooner.