So I promised I would get back to you all. Here is what I found out and did.
First, I started by emailing Canon and telling them about my two cameras I would be interested in trading. The person who responded via email told me to call a number and tell them that I had been offered the Loyalty program. (I think I had already told you all this...any BTW, I am in the US).
I ended up calling in twice. The first time I was told that I could trade in my 20D for a 5DmkII and it would cost me $1679.20. I was also told that I could trade for a 7D for $1,100. Please remember that these are REFURBISHED units and not brand new. Also, the body only cameras are what are in the program, no bodies w/ lenses. They come w/ a 90 day warranty and I believe about a week to send it back for any reason. I needed to think about it and so I didn't purchase at that time.
So after the first call, I called and talked to another lady as I was ready to order. Long story short, they were out of stock. The lady gave me the website where I could look to check for when they got more back in stock. Needless to say I was bummed. I also, in the interest of full disclosure (and not wanting to cheat them) mentioned that the guy in the email never asked what was wrong w/ my camera. I told her that they were not broken beyond use, but that the 20D had given me problems in the past and that the A series point and shoot only had one of the lens protectors broken off. She said that it didn't matter (as the cameras get shipped directly to a recycler that destroys them).
Wait, there is more good news... you can now trade in an old point and shoot and upgrade to an SLR!! Not joking. The lady told me that if my 20D was still working sometimes, I could just keep it and trade in my point and shoot. I made her clarify for me that I would in fact get the exact same discount trading in my old Powershot A series that I would get for trading in my 20D, and she said yes, and again confirmed the price. She said you used to have to trade in an slr for an slr or a PS for a PS, but that they had just recently lifted the restriction. So, I set myself to stalking Canon's site waiting for it to come in stock again.
Fast forward to today...5DmkII refurbished was in stock. I called and ordered, but get this, the price had changed...it was now $1,599.20!!
So anyway, I have a new camera coming and it should be here next week (fast shipping too). The way I look at it, I should be able to sell this used a year from now and upgrade if I like the new 5D when it comes out, and in the mean time I got to use an upgraded camera for a year or so. Or maybe I will like this one enough and just hang onto it.
Anyway, thought you all would want to know!