I can think of nothing better to blow my tax return on than a HDSLR from Canon, even with the knowledge that the model I buy will be nearly obsolete by the end of 2011.
There are many to choose from these days, but at some point I have to make an investment and start shooting. While gear is just gear, and is no replacement for story, emotion, and other great aesthetic qualities, the truth is that professional equipment exists for a reason, and I want to create professional quality material (whether for freelance gigs or my own narrative work). To many camera snobs, an HDSLR is laughably quaint and pointless, or at least trendy and abhorrent.
To them I say: go fuck yourselves, because the technology has radically democratized the indie filmmaking community, and it's something I choose to embrace. and HDSLR is absolutely capable of professional results, if you aren't a complete moron when you use it.
As with nearly every amateur, professional, and professional amateur in the least two years, I'm debating between the 5d mark II and the 7D. The beauty of these new generation cameras is that while the filmmaking-aspects may have a built in shelf life, the still-camera aspects will remain incredibly robust, and perfectly suitable for professional applications. Also, the glass I buy (a mid-range "L" series zoom is my first choice) is something that'll last for decades if I treat it right.
With having to keep computer power, data storage, camera support equipment, and software licenses reasonably up to date, It's much harder to invest in hardware than one would think. Especially for newcomers like me. But stories don't tell themselves, and I have no interest in waiting around for some magical product that'll transform me into an overnight success. Success comes with work, and work in my field takes gear, and this gear is the best I can get right now.
At the end of the day, shooting is better than not shooting, whether it's on a Bolex, a piece of shit Hi-8 from 1992, or a RED. That's the only lesson I care to learn right now.