Any thoughts on a Nikon D40?

Hi! I'm a college student in the market for basically the cheapest dSLR I can find. I found a Nikon D40 online within my budget. I've read that it's basically the end of the foodchain as far as dSLRs go, but I've also read that even the worst dSLR is better than a regular Point and Shoot. Any recommendations?

Added (1). I've also found a refurbished Nikon D3000 within my range. Which would you recommend?

The D40 is a good basic DSLR. True, the sensors have gotten a lot better regarding noise, but the D40 works quite well, way better than a point & shoot. It has advantages if you want a flash sync speed going up to 1/400 seconds. Regular DSLRs sync only up to 1/200 seconds.

The D40 was a good little camera in its day. I have a friend who gets the results that she likes with her D40. But it is dated and you might like to think of a later model if you can afford it. But whatever you buy make sure the battery is in good condition.

Indeed a DSLR of any sort is a much more serious instrument than a p & s camera. Its physically much larger sensor (even with the same number or smaller number of megapixels) gives better image quality, and the control it offers over shutter speed, aperture, and focus is essential for getting to grips thoroughly with serious photography.

The worst dSLR is the D3000. The D40 is better. Do not buy online. Inspect the camera thoroughly first before paying.