I'd better start :)

Current Cameras:
Canon EOS 400D

Lenses:
Canon EF 70-300mm f/4-5.6 IS USM
Canon EF-S 18-55mm f/3.5-5.6
Canon EF 100-300mm f/5.6
Canon EF 35-70mm f/3.5-4.5

I process in lightroom as I find it great for workflow and tagging, so also tend to work with RAW files for the flexability. Also use Photoshop CS2 for those little creative tweaks :)

Camera:
Nikon D50

Lenses
Nikkor AF-S 18-55mm f/3.5-5.6 DX
Nikkor AF 70-300mm f/4-5.6
Nikkor AF 50mm f/1.8 D

I don't do a great deal of processing, but I use Photoshop CS2 when I do.

I don't really bother with .RAW at the moment because I find them difficult to manage, so it's .JPG all the way so far.

Camera: Nikon D40

Lens: AF-S 18-55mm f/3.5-5.6GII AF-S DX
I'm on the look out for a reasonably priced prime lens

I don't do much processing either, just the odd crop. I have tired the beta of Lightroom on the Mac and was mpressed - may invest in the future. I always take in JPG so I can get as much on the card as possible

On the luck out for a DSLR - Just finished my degree, so money is abit of an issue! What do you think? What is the balance between lens and body - I was tempted with an expensive body and cheap lens for now - but I read that this may not be wise - it seems to be the lenses which people keep forever, not the bodies!
Andrew

On the luck out for a DSLR - Just finished my degree, so money is abit of an issue! What do you think? What is the balance between lens and body - I was tempted with an expensive body and cheap lens for now - but I read that this may not be wise - it seems to be the lenses which people keep forever, not the bodies!
Andrew

For a first DSLR I went for a mid range cost camera body and love the EOS400D, but lenses is the way to go because as soon as I had the camera I wanted more lenses and as you said lenses will last longer than camera itself.

Camera
Nikon D80

Lens
Nikon 50mm f/1.8 AF
Nikon AF-S DX 18-135 mm

Shoot in RAW and process in lightroom.</b>

i shoot with a Nikon D50 and the standard kit lens (but i will be investing in some lenses soon)

I shoot in JPG & process in PS, but i have shot in RAW previously (for a wedding), and once i get lightroom, i'm switching!

Camera
Nikon D2x

Lens
Nikkor 17-55mm f/2.8 AF-S DX
Nikkor 80-200mm f/2.8 AF

Shoot in RAW
Process in Nikon Capture and CS2

I shoot in both simultaneously as reviewing jpgs is far easier than RAW especially using a media extender and the price of CF cards are dropping all the time. Once I have found the jpg I want to work with I find the associated RAW and go from there.

@ Andrew Bird, I think its all about the lens.

Camera:
Nikon D200

Lens
Nikkor 28-200mm f3.5/5.6G AF ED IF
Nikkor 50mm f1.8 AF D

Shoot in RAW, process in Aperture and CS2

@Andrew I would recommend to buy a cheap body and start building an arsenal of good lenses (I did the opposite :-(). Once you have good lenses you can buy a good body to exploit them. Remember this the body technology progressing very fast (prices dropping) and this is not true for the lens technology.

Another tip. Make sure the lenses you buy are compatible with the body you WILL upgrade. For example if you buy a Canon EOS 300D with an EF-S lens and then upgrade to a 1D the EF-S will not fit.

my 2p :-)

350D
Powershot A95

Canon 50mm 1.8
Canon 24mm 2.8
Sigma 24-70mm f2.8

With the 350D I shoot in raw most of the time but I do shoot in jpg every now and then

I did infact get a Canon 400D, which I'm finding rather good! I did however buy a cheap lens too - possible a mistake, but i quite like it for the moment. It was the sigma 70-300 APG DO ?? have i got the letters right, i can't quite remember. Anyway, less than 80 quid on ebay - can't really go wrong.

Oly E400 with the standard zoom lens kit. At the time of purchase the Canon EOS400D was a good body, but the lenses in the kit weren't as good as the Zuiko.

Zuiko 14-42 f3.5-5.6
Zuiko 40-150 f4-5.6

I usually shoot in highest quality jpeg, but for when taking 'proper' photos, i do raw too.

I use iView for the image sorting and photoshop CS2 for processing.

still on my trusty nikon 5700, shooting in fine jpeg (has RAW but files are mighty big and write times not so good for that).

i am amazed how much I have got out of this camera, which was meant to be a stop-gap between 35mm SLR and DSLR....still waiting for the money for the DSLR as i am now studying again. as i said though, the 5700 is beautifully designed and does what it should do very well. small aperture is annoying, but the build and manual abilities and shooting options are very handy and intuitive.