When I was using the 350D it was rugged enough and weather proof enough for my needs and I got some very nice photographs with it. Now my shooting partner is using it and it is still producing some very nice results. I'd be very happy to use a 450D.
One thing though, that I haven't seen mentioned is those custom function settings. Does the 450D have them? There are several things I really like about the 40D (size and weight, frame rate and so on) but when out shooting in the late afternoon I often hear birds calling some 3 or 4 seconds before they appear and selecting one of the custom functions allows me to change the iso, switch from initiating auto focus on the rear button to the shutter button, adjust the exposure compensation and change to AI autofocus.
I've found these custom functions really useful and would miss them now.
Cheers, David