My wife's sister bought a Sony Mavica a long time ago. That camera has 640 X 480 resolution.
I bought, a few months later, a Kodak DC260. That camera has a whopping 1.6 megapixels.
Now I set up more than a few web sites back then, and I can assure you that a photo taken with the 1.6 megapixel camera, and then downsized using a bicubic algorithm to 640 X 480 for web viewing ALWAYS looks better than the photos taken "native" at 640 X 480.
And before you say "Yeah, but the Mavica was just a bad camera.", let me also point out that if I simply cropped a 640 X 480 section out of one of my DC260's shots as opposed to getting in closer and making the shot, then downsizing it, THOSE crops looked far worse than the downsized versions.
So you are totally incorrect when you assert that the "extra pixels" are "thrown away". They are not. They are used, even to make a small print. Good RIP software or good downsizing software generates a better small print or web photo by taking the extra information and mapping it onto the smaller image in a useful way.
Maybe you can't see the difference, but I'll bet that If we were to take 5 megapixel crops from a 5D and make 8 X 12 prints and then make 8 X 12 prints from the full 8.2 megapixels of a 20D (for cases where we used the same lens and same camera position to attempt to make a bird shot or whatever), most people would prefer the results from the 20D's full frame versus the lower resolution image from the center of the 5D.
I don't believe that you've actually done this and compared the results. I think you'll be surprised at what you find when you finally do try it.
Now I'm not saying that there is a huge difference, but the thing that is making people angry in this thread is not that you might believe that what you'd get from the 5D would be "good enough for you", but that you're trying to ram your beliefs down everyone else's throats and many of us here have done this for a long time and we know that the higher res images are better - even on 8 X 12 prints!
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Jim H.