Boy, I used the ProMaster at a school Christmas show last night and it performed admirably! I'm a little irked that when I went to Amazon.com and searched for "Promaster 7500" I got no responses, so I bought it at a local store for $200. A buddy of mine searched just for "Promaster" and scrolled down the page of replies and found the 7500 for about $139, so I'm a bit miffed. But my experience with it is it's a great flash for the money. Be aware of that glitch if anyone goes looking for it on Amazon.
To sum up the most popular choices here, the Sigma 500 Super and the Metz 54 seem most popular. The Sigma is on Amazon for about $230. Near as I can tell there's no functional or features difference between the Sigma and the ProMaster except the ISO 100 (105mm) GN is 138 for the ProMaster and it's 161 for the Sigma. The Sigma has the 14mm diffuser built in to the unit so you won't lose it, the Promaster has a clip-on separate diffuser which you have to take on/off if needed and carry around in your pocket. The Promaster has the 'wink light' for use with bounce, like the Metz, which I really like and the Sigma does not have that (nor does the Canon). All in all, I came to the conclusion that the ProMaster was a better value, and I'd take the lower GN in trade for the wink light. For me, I wouldn't spend the extra $90 for the extra power with the Sigma. Oh, and the ProMaster has a metal hotshoe, for what that's worth. No worries about breaking it.
The Metz 54 MZ-4 has the wink light and a GN of 177 for ISO 100 (105mm), but it's $390 on Amazon! That's as much as the Canon 580EX, which has a GN for ISO 100 (105mm) of 191, making it the biggest light blaster in the bunch. Actually, on Amazon, the Canon 580ES is $374, coming in a little less than the Metz.
All of these flashes work with the latest Rebel XT firmware (mine had a sticker on it stating it's compatability, thanks again to Curtis). All of them bounce and swivel as far around as 180 degrees straight back. All will synch with the second shutter curtain. There may be some arcane little nit that one does the others don't do, but I certainly don't know what it is. I haven't tested any but the ProMaster, but my results are terrific, especially using bounce with the wink light to lighten up the eye sockets. I think it's the best value for the dollar, but there may be something about one or the other someone is willing to pay for, it's a very personal thing.
Here's a little table I made up to compare them, all GN are for ISO 100 at 105mm zoom because that's what was reported.
Model // GN // Wink (y/n) // Price // GN-price ratio
ProMaster 7500 DX (v.2) // 138 // Yes // $139 // 1.0
Sigma 500 Super // 161 // No // $230 // 0.7
Metz 54 MZ-4 // 177 // Yes // $390 // 0.45
Canon 580EX // 191 // No // $374 // 0.51
Thanks for all the help, guys! It was quite an education. For now, I'm really happy with the ProMaster (well except for the fact that I overpaid for it because I couldn't find it on Amazon) and I feel it suits my needs in terms of power so for me, it is certainly the best value. I don't think there's a nickel's worth of practical difference functionally, but YMMV.
ProMaster 7500 DX version 2 . . . jpreviews says. . .HIGHLY RECOMMENDED!
later edit By the way, I found the Metz 54 MZ-3 on Amazon for $335, but without much descriptive detail. It does have the same wink light feature, and if an earlier poster is correct in that it works for Canon. . .if it has the same GN as the MZ-4, then the GN-to-price ration for that unit is 0.53. It says it's for Canon. If it works with the latest firmware updates, then I'd say, yes, it's a better value thant the MZ-4 version. Make sure it does work with the latest camera, though. I would have had an issue with the version 1 of the ProMaster 7500 for sure!
JPC