These aren't rumours, merely me predicting. So here goes.
Canon EOS 450D
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MP: 12.1 (The target market cares about bigger numbers)
Crop: 1.6x
Proc: DIGIC III 14bit
AF: 9 Point
ISO: 100-1600 (H 3200)
VF: 96%
LCD: 3″ (Not VGA)
FPS: 4
Memory: Secure Digital (Likely compact upgraders will have SD cards.)
Grip: BG-E3
Sealing: No
Special: Movie Mode (I'm going on a limb here)
Special: Live View
Special: Face Detection
Special: Updated Menu UI
Special: Updated Picture Styles
Special: Print Button (Sweet)
Sealing: Dust Removal (Improved?)
Lens: EF-S 18-55 f/3.5-5.6 IS
Price: $899 (MSRP, Cheaper on the street)
Canon EOS 7D
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MP: 12.8 (Updated sensor)
Crop: 1.0x
Proc: DIGIC III 14bit
AF: 9 Point (40D quality)
ISO: 100-1600 (H 3200)
VF: 96%
LCD: 3″ (VGA)
FPS: 4
Memory: Compact Flash
Grip: BG-E4n (Updated with sealing)
Sealing: Some (Like the 40D)
Special: Live View
Special: Updated Menu UI
Special: Updated Picture Styles
Special: Print Button (Sweet)
Sealing: Dust Removal
Lens: Body Only
Price: $1999 (MSRP, Cheaper on the street)
As for lenses, only 2 make sense to me.
EF 100-400 f/4.5-5.6L IS (Still Push/Pull, new 4 stop IS)
EF-S 17-85 f/3.5-5.6 IS (Improved optics, build quality & 2 mode IS)
That's it, I'm sticking with those predictions. I'll likely be horribly wrong.