Personally I'd get an older second-hand body and spend the rest of the money on lenses.
I'd rather have an older body with lenses that are:
faster (have a wider aperture),
and cover more focal range (i.e. having lenses that can go wider, as well as zoom in further than the normal bundled "kit lens")
than the latest body with only the kit lens.
The kit lens aren't bad, and they're great value for money, but you won't be able to zoom in on distant things (unless of course you're getting a 55-200/55-250 or similar bundled lens), and they're not fast, full stop.
A cheap 50 f/1.8 lens (or 35 f/1.8 if you're going Nikon) will let you take photos in lower light, all other settings being equal. So you'll have less blurry shots in low light, and you'll have better "bokeh", or blurred backgrounds, where your subject is sharp and in focus, and the background is not.
Summary:
Personally I'd rather spend as much money as I can on lenses, and rather get an older dSLR (Canon 350D or Nikon D40) than the latest dSLR.
Don't forget to actually go to the store and hold the camera in person, you might decide on a model and then find out that it feels horrible to hold and operate.
Remember, your dSLR body will be obsolete in a years time at best, but you'll still be using your lens for decades to come (hopefully)
Note:
With some of the "lower" end Nikon models, the body doesn't have an auto-focus motor. If you want to be able to auto-focus, you'll be limited to lenses that have an auto-focus motor in the lens itself.