Knowledgeable advice requested?...

[Realist]

Well if since you're on a budget I don't think a DSLR will be too friendly on your wallet. Now they have MILCs, mirror-less interchangeable lens cameras. They have a bigger sensor than point and shoots, and have more advanced controls depending on the model. You can also buy new lenses for them just like an SLR camera. I have never used one, but I've heard good things about them.

Here's a link to a Panasonic Lumix MILC. I've read good things about the lumix line before.
Panasonic Lumix DMC-GX1 Camera Body with 14-42mm Lens, Black DMC-GX1KK

Here's an Olympus PEN series. If i'm not mistaken they started the MILC concept.
Panasonic Lumix DMC-GX1 Camera Body with 14-42mm Lens, Black DMC-GX1KK

Finally here's the general category of MILC cameras so you can explore on your own.
Compact System / Mirrorless Cameras Digital Cameras | Buy, Compare & Review | Adorama

Hope that helps out!

[Pegasus]

Many thanks, Realist! You've given me a few excellent links to check into, so I'll have a look to see what's on offer......I've just been informed tonight that I'm NOT buying used equipment, as Christmas is coming, and my intended purchase would ruin carefully-laid gift plans. And I've also been told that a lower-end DSLR isn't out of the question. (So it looks like being a good boy all year may actually pay off after all!!!).....Thanks again for your help!

[Realist]

Well best of luck, hopefully you get a nice camera!

[Iguanasan]

Since you are already familiar with the Canon way of doing things I will make the suggestion of the Canon T3. And since you are in Canada, here's a link to the Canadian Futureshop page with the T3. Canon EOS Rebel T3 12.2MP DSLR Camera With 18-55mm Image Stabilized Lens Kit : Cameras - Future Shop which comes in at $499. It's not quite as feature leaden or robust as the T3i or T4i but has pretty much all the features you would want and comes with an 18-55mm lens which is a rather flexible lens for day to day stuff. A 50mm f1.8 is only $129 and is an awesome portrait lens if you wanted to add that one lens to your kit.

[Marko]

+1 on Iggy's advice and his choice.

Personally, I would not buy a point and shoot as they simply won't work well for all subject matter. That, and a good one approaches the same price as many DSLRs anyway.
For me point and shoots are about convenience and portability.
Photographers that know what they are doing will enjoy one as their second camera for use with select subjects and situations....but they will hate the bloody thing if it is their only camera.

In terms of Nikon DSLRs - Nikon's D5100 is being replaced by the D5200 so now is a great time to get a lot of camera for just a bit of cash.
Nikon D5100 16.2MP DSLR Camera with 18-55mm VR Lens Kit : Cameras - Future Shop

Hope that may help
Nikon D5100 16.2MP DSLR with 18-55mm f/3.5-5.6G VR Lens, SLR Bag, & Battery - Best Buy Exclusive : DSLR Packages - Best Buy Canada

Hope that may help