Well yesterday I was coming home from work had my gear with me as always. I stopped at the store to pick up some sushi and a couple Monster energy drinks. Came back out to the car and drove home. Went to pull out my bag and I get that sinking feeling its gone!! I won a jeep wrangler so the simply unzipped my back window snatched it. I was freaking out thinking I am totally screwed because after the deductible and depreciated value well you know not enough to even replace the body and one L series lens. I talk to my wife she gives me that "I cant Fning believe you" look but tells me everything will be alright as she has all my gear covered under a 8000.00 blanket policy. Talked to my company that night and will have a check in 7-10days. 

After I replace my glass, I will have about 3000 left to get a new body. I had a 30d and xti dont really need 2 bodies. I was thinking about getting a 5D or a 40D and save the rest. 
I haven't had a chance to use a 5D and I know its getting up there in age but is it still worth the money I have a feeling it will produce better quality photos over the 40D. Ugg had no plans on even looking at a new body now I have to pick on out. Oh and sticking with canon as my 24-105mm f/4L lens was at the house for some. I even considered not replacing a lens and using that money to get a 1D Mark 3 but not sure If I really want to go that route though it is a nice camera.

You have made the message clear: Have it all insured.   I am only covered by homeowners and that is not enough for stuff like this.  My next move..to the insurance agent. 
  
I wish you the best in new equipment and in recovery from such an event.  That is a mighty blow.        Tom.

Thanks Tom, yeah I was so happy with my wife you have no idea.  Now for the research ugg

I do have an idea...but it wasn't camera gear.  Go for the goodies!

I wish you the best!
I had a similar problem and replaced the 350 with a 40D. The 5D was too expensive and it's also going to be upgraded (six months?). Thing is also, the 5D is full view, so not all lenses work with it. But full view is better for wide-angle (no more multiplying with 1.6) but tele becomes more expensive (same reason).

My opinion on the 40D: it can replace my Olympus OM4, a camera I loved (and still love).Heavier, larger that the 350, yes. But working with it is easier, except for AEB which needs the menu's. Autofocus works better, but manual is still often needed. Preview is much larger, the viewer is a step ahead. It works very fast in RAW. Signal to noise is very good up to 800, and 1600 is better than 350 but visible. NoiseNinja basic (in Bibble) takes care of most of it, and for print it's not a real problem. I shot 6Giga of raw with autofocus but no flash, anf the battery was still indicated as being full. I'll upload some captures soon.
Do take into account that I rarely use all the subtle advantages of digital: I primarily use a camera as a film camera with a sensor instead of film, and the advantage of not having to change film due to sensitivity problems.

Tough break Viper but thank goodness for your wife's foresight. And it sounds like something good will come out of all this in the form of an upgraded body. Enjoy the research, it is not everyday we get to pick out a new toy. ;']