Model Number

EOS 350D

An 8MP sensor. Note this is not the same sensor as is used in the EOS 20D, though it seems to be very similar. 
Sensor size 22.2 x 14.8 mm versus 22.5 x15.0 mm for the EOS 20D 
The Canon EOS Digital Rebel XT will be available in a black or silver finish 
Metering mode is now manually selectable 
Autofocus mode is now manually selectable 
7 focusing points (20D has 9) 
9 custom functions (the EOS 20D has 18) These include: programming options for the SET button/Cross keys; control over long exposure noise reduction; flash sync speed in AV mode; AF start from the shutter button or AE lock button; AF assist beam; mirror lockup; E-TTL II metering patterns, and shutter curtain sync. 
Frame rate is 3fps for up to 14 frames (JPEG) 
Startup time is 0.2 seconds 
Shutter speeds are from 30-1/4000s and sync is 1/200 
The Digital Rebel XT has a USB 2.0 interface 
The Digital Rebel XT is 10% lighter and 25% smaller (in volume) than the current EOS Digital Rebel 
It has E-TTL II flash 
Writing to the CF card is 3.5x faster 
Simultaneous RAW and large JPEG writing 
The Digital Rebel XT has mirror lockup and 2nd curtain sync flash 
It has a Black and White shooting mode similar to the one on the Canon EOS 20D 
It has a new precision matte focusing screen 
The flash sits higher to reduce red-eye and has a GN of 13 
Flash compensation is +/- 2 stops in either 1/2 or 1/3 stop increments 
Exposure compensation and bracketing can be done in 1/2 or 1/3 stop increments 
ISO range is 100-1600 (same as the current Digital Rebel) 
A new grip (BG-E3) takes 6xAA cells or two NB-2LH Li-Ion batteries 
Up to 600 shots per battery charge 
CF cards and Microdrives (type I and Type II) can be used. It appears that cards over 2GB will automatically be formatted using FAT32 in the camera to access their full capacity (FAT16 only supports up to 2GB). 
As with the current Digital Rebel, the LCD displaying shooting info is located on the back of the camera, above the color LCD display rather than on the top of the camera as in the EOS 20D 
The Digital Rebel XT uses the Canon NB-2LH battery pack, which doesn't seem to be compatible with the BP-511/BP-512 batteries used in the original Digital Rebel, EOS D30, D60, 10D and 20D. The Canon NB-2LH rechargeable Lithium Ion battery is compatible with the following: Canon PowerShot S30, S40, S45, S50, and S60 digital cameras; Elura 40MC, 50, 60, 65, and 70 camcorders; and Optura 30, 40, 400, and 500 camcorders. It's rated at 7.4v and 720mAh. The BP-511/512 are rated at 1100mAh.