I'm much in the same boat as another poster at the moment. Canon, Nikon or Olympus is my short list at the moment (D70s, 20D and E300).
The problem is, the E300 has a very clear price lead over here in Australia. These are some prices just off an etailer (I've gotten cheaper prices locally) but represent fairly well the price differences.
Canon EOS 20D with Canon 18-55 Lens
$2,559.00 Inc. GST
Canon EOS 20D with Canon 18-55 Lens
Nikon D70s with Nikon 18-70mm Lens
$1,845.00 Inc. GST
Nikon D70s with Nikon 18-70mm Lens.
Olympus E-300 Digital SLR Twin Lens Kit
$1,369.00 Inc. GST
Olympus E-300 Digital Kit SLR this includes a 14-45mm and the 40-150mm ZUIKO DIGITAL zoom lens, and the battery grip. No 2nd battery.
Note that the Canon is almost double the price of the E300 and sans a few features/extra's. None come with cards/bags (something I've factored a cost for across the board)
From the comments I've read, the E300 has a few issues (poor wide focus with the basic lense, pictures can be a bit to soft, poor ISO performance past 400) but my question to you is for that price point, do the short comings outweigh the value? (subjective of course

)
After handling all three camera's, I like all 3, so I'm left with cons vs price. The cons of the E300 do not outweigh the price difference imo.
Also, is this situation similar in the US and elsewhere?
I think I've made my mind up but I have a few doubts still floating around so I thought I'd ask for a little guidance