I've spent part of the afternoon doing some research and price shopping and came up with this tentative shopping cart full of goodies from B&H.
That's not including $125 in Canon rebates. I'm not sure about the extra lens... we'll see. But since I'm very keen on shooting indoors in low light, the larger aperture is reeeeally tempting. The 18-55mm it comes with is only $65 more, so there's not much point in not getting that.
Any opinions? Is the Extreme III card worth it?

Good camera choice. I have the 20D which is the next step up -
Good camera choice. I have the 20D which is the next step up - same 8MP sensor but more control and a more robust body. When we bought it the Rebel XT wasn't yet available - if it had been I might have bought it instead of the 20D and saved some money.
Definitely a good choice of place to order from.
I'd try out the 18-55mm lens first. The sensor on the Canons doesn't show a huge amount of noise increase if you push up the sensitivity. However, if you're interested in portraiture where you want a small depth-of-field, go for it. Another (much cheaper option) is the EF 50 1.8 lens. It's an amazingly good lens for the money (around $70.)