To me the D40 seems like an outstanding body, esp because of the size/weight of the body. The one feature I just can't get over it and the D60 have missing is the depth of field preview function. Isn't this a pretty major feature for a camera this level to be lacking? Even my D75 film camera had it, and I used it a lot. But for the DOF preview, I'd have a D40 now. Still debating. I don't really see myself needing a D80 (not for a long while).

This one does a great job reviewing the D60 and comparing it to the D40. Seems to me, the D40 is a handsdown winnar!
http://www.kenrockwell.com/nikon/d60.htm