My D50 has treated me very well since I got it this past summer Lookout. I bought it used (most will be since they are out of production due to the new D40's out now) for a very reasonable price in comparison with other "entry level" dslr's. It has a very solid body, metal lens mount, 6mp which is all you'll need unless you want to some heavy cropping or poster sized prints, and like you said, it is compatible with older Nikon lenses.
The new D40's don't have a built in auto focusing mechanism, so they can only use a new line of lenses so I would avoid that route if I were you. If you want to know more about the D50, PM me and I'll send you all I know and have experienced with it.
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Kiss my white Irish ass.
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