Buying a Digital Single-Lens Reflex (DSLR) camera is really a pain. I went through that as well. Here are some pointers I learned:

Buy what you can without putting strain on your finances.
Better set your priorities right. This is your hobby, not your livelihood—yet. If you decide to go pro then getting good gear becomes a higher priority, but when you’re still learning, skill and knowledge development is the priority. Do not think that by getting expensive pro equipment you can immediately become a professional and earn money to pay off the cost of the equipment. I’ve seen a lot of newbies do this and fail. Clients will more likely hire you for your skills, style and rapport than hire you for your gear. I’ve read about famous photographers who use film instamatics and point and shoot cameras to take photos.

For those on a budget, get the gear that’s between the oldest and the latest.
Doing so, you won’t crave to upgrade too soon because your gear is slightly less than the latest and you’d appreciate the gear because it isn’t that outdated. Also, newer doesn’t always mean better. Getting the latest gears run with the risk of getting buggy or defective first batches.

After getting the cam, whatever it is, you NEED to maximize it to its full potential.
In my case I went with a 2nd hand Canon EOS 300D 6.3MP (slow) DSLR because it’s what I can afford and it’s the minimum I need to jumpstart my freelance photography business. I maximized it to the fullest, being able to do events, products, and studio/outdoor fashion with just one lens, the Sigma 18-125mm DC, and a cheap but flexible flash, the sunpak 383 manual flash. In the process, I applied all that I learned and got tips from the masters.

Learn to make up for whatever you think your gear can’t deliver.
I had no lens with Image Stabilization. That’s a real problem when you’re in a low light environment and you don’t have a wide aperture lens and a tripod. I adjusted to that kind of situation by mastering how to shoot with lower shutterspeeds handheld. I now know how to take 1/15secs shots handheld with the least blurring or noticeable shake. I experimented with shooting higher ISOs and doing noise reduction in post processing. Now the chances of me missing a shot because there’s little light has been reduced.

I hope you’re still awake after reading all that and that you’ve got some good points.

Goodluck and congratulations on your new DSLR.

Related posts:

1. Budget Photography: Why get a DSLR?
2. Flash, Tripod, Lens – which comes first?
3. Buying tips for your camera bag(s)