Update - The latest information does NOT mention the 70D - it looks like we will see the T5i (700D) and a smaller rebel 100D. 700D Specs are mildly improved over the 650D with one item worth noting, an 18-55 STM lens will be available in April. The 100D will be available in May. Canonwatch is talking about a smaller form factor DSLR from Canon that may be coming soon - specs sounds basically the same including using the same sensor used in the T4i(650D). FYI it is quite difficult to shrink a DSLR down as it needs a mirror and the space required is a significant percentage of the total camera size. My excitement level is a 4 out of 10. The next exciting announcement is later this month when we should hear about the 70D, a 60D replacement. The rumor is a return to the higher level occupied by the 50D.  Released in 2008, the 50D was placed solidly above the Rebel line, it offered a camera with magnesium body (think pretty tough) and professional features like Micro-AF adjust (not all lenses focus perfectly with all bodies, Micro AF allows you to tweak the alignment to get better results for each lens) and a fast burst rate with large buffer. Two years to the day later the 60D was announced and was seen by many as a departure from the prosumer line and a blurring with the Rebel line.  The 60D was slightly smaller, lost the magnesium body and the Micro AF adjustment.  It did gain video recording features and the articulated screen.   With the feature set of the T4i it is likely that the 70D will return the XXD line to a more professional level. This will increase the price with a kit costing somewhere in the neighborhood of $1500. This also puts it on par with Nikon's recently released and excellent D7100. If you follow all of the different Canon lines you may wonder where that leaves the 7Ds replacement, the rumor there is that the 7D Mark II will come in at much higher level too, close to $2000 and offering a high-end focus system and burst rate that is needed by sports and wildlife photographers. Back to the idea of a smaller T4i- eh.  Traditionally Canon has offered a dumbed down rebel and budget friendly rebel that uses a similar form factor with cheaper sensor and missing a few features.  This sounds like the opposite - a smaller camera with the current T4i guts crammed inside.   I don't know how this will fit in the pricing scheme but Canon is certainly feeling pressure from the mirrorless and Micro 4/3 systems otherwise they wouldn't have rushed the EOS-M out the door with admittedly slower AF.     The smaller rebel rumor isn't very exciting unless it comes with a new feature or two and knowing these companies desire to extract every penny from our wallets those features will only appear in the second version. Someone left a comment on one of my videos "If only Canon and Nikon would combine we would have one Awesome camera"   Noooo this is exactly what we do not want.  Competition is good and I am pretty convinced now that the price of the T4i really dropped over the last months to get a solid install base before the D5200 was released though the Nikon still doesn't seem to be selling well and probably won't until it sees a price drop too. I'd love to hear your thoughts?