I wouldn't pay that much, its to be honest a fair price for the 40d which is a great but dated camera, while dated still functioning.
What cracks me up is like most people i was freaked when saw this, meanwhile the same lenses we use today produced the same great photos on great equipment. The only argument is that great "L" lens, some not all, predate digital cameras, and the lens are patiently waiting the cameras to come full circle and produce film images.
A 40d at $400 is not my issue, its just that for a few bucks more you can get a new camera, or used camera. for example, the rebel of the day IMHO outdoes the 40d, especially since this was an older crop camera but still a great camera, if it were not of rthe 50d and 7d many people would have loyally shot with it still. And of course the 60d
for example, i got a 5d mark III, I'm the type of person that will go in with the intention of buying something i researched but leave with the most expensive thing wasting time. , Which doesn't always work in my favor, just sometimes. But really manual settings, a 70-200mm II 2.8 or about any lens same quality and workability. MY OPINION - i take a shot in manual like i always do, so does shooter number 2, lest say anything, 5dmkII, 5dmkI, 7d, rebel etc.
"recon", where can i get a used 5dmk1 for $400? Im not being facetious, I'm curious, for $400 i would love to try out the old 5d. same thing for 1d.