Nikon announces the D60 SLR camera in time for the PMA 08 photo trade-show starting this week.

The 10.2MP Nikon D60 features the form-factor of the Nikon D40.
Other features of the Nikon D60 include .18-second start-up time, Nikon 3-D Color Matrix Metering II, adjustable cross-screen star effects, color-intensifying filters as well as D-lighting, Red-eye correction, Image Trim, 2.5-inch color LCD monitor and Image Sensor Cleaning.
The D60 will be packaged with the 3x zoom AF-S DX NIKKOR 18-55mm f/3.5-5.6G VR lens and will be available throughout the United States beginning in February 2008. Pricing is not set yet.
Via the Nikon site.

Update:
The Nikon D60 sells for an affordable $749.99 and ships in February. RitzCamera takes pre-orders for the D60.