Well, perhaps this difference wouldn't justify the price difference completely, but since we're now talking about value for money, here are just a few specifications.D300:
• Default: ISO 200 - 3200
• Boost: ISO 100 - 6400
• 1/3, 1/2 or 1.0 EV steps
D40:
• Default: ISO 200 - 1600 (+ Hi 1 = 3200)
• 1.0 EV steps
Ok, so your friend has more iso settings and he can crank it up to 6400 (I would wager that he rarely or never goes above 800). You've got to be in a very unusual situation where iso 200+1/3 at f11 (which you can't do with your D40) is going to give you a noticeably different result than iso 200 at f11-1/3 (which you can do with your D40). I could be wrong, I haven't done the experiment, but seriously would the difference be worth the price considering you can probably completely eliminate any difference in post-processing? I'm not trying to be argumentative here, really, but I would hate for anyone to come away from reading a discussion like this thinking that another couple of grand in hardware is going to make them a better photographer.
J--
D40 - 2.5 fps (essentially 2 fps), 6 megapixels, shutter life 80 000 exposures, 2.5" LCD screen, no protection against moisture
D300 - 6 fps, 8 with MB-D10; 12 megapixels, shutter life 150 000 exposures, 3" LCD screen, buttons weather-sealed
Oh and by the way, here is his Flickr page, you may want to have a look:
http://www.flickr.com/photos/africansh
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