Re: D200
Regarding the DSLR, if his film SLR dates back earlier than the late 80's/early 90's, the lenses won't be interchangable with the Rebel XT as they'll be the old FD lenses instead of the newer EF series of lenses.
That said, regardless of that, I paid $2000 for my Rebel XT and lenses/bag/tripod/etc. A lot of money, especially for a student, but it was well worth it. There are so many times where I can do things with this camera I never could with my old Powershot A70, which had a lot of features for a point and shoot. One main feature is the interchangable lenses. I don't think I could go back to a point and shoot because of this.
Between the kit lens and my 75-300mm lens, I have an effective optical zoom of almost 17X. When you then factor in that 8.2 megapixels is completely unnecessary, you can use digital zoom (by cropping in photoshop). Normally, digital zoom is considered bad as it just enlarges the picture, making it more pixelated. But you can easily figure out how pixelated you can make it. By doubling the zoom to 34X digitally, that's still 4.1 MP, which should suffice for most tasks, and honestly... where are you going to get 34X zoom on any point and shoot?
I have some images I've taken with it of buildings in and around toronto here, if you're interested.
www.abandonedplanet.net