Its not a DSLR. In my opinion, that is the best and worst thing I can say about mine. I use mine as a shirt pocket camera, for candids and such. It is small, almost too small for me, and the menus don't have alot in common with what you are used to, but with only two weeks of use I am getting used to it pretty quickly. I agree that it is limited to 400 ISO and below for acceptable noise, but its quick to focus and has more features to play with than I will ever really master.
the 409 sounds about right, although I have seen them for much less. I got mine through an employee buying program my company provides me with dell computers for exactly that price.
I got the 'official canon leather' case that is available only overseas- mine came from Japan for 80 bucks including shipping. The brown leather case costs more and looks better. I am a big guy and the thing still fits in my 2xl shirt pockets in the case.
It is great protection for the camera, but offers no compartments for cards or batteries.
I AM EXTREMELY HAPPY with my new toy.