Not what I see. 40D appears to have less noise just because it is smaller FOV/larger crop. Resize them to the same size and compare again. 50D has at least as good noise. 50D image definitely has more resolution though.
I downloaded RAW files from imaging-resource, exported with standard settings, resized to same resolution and basically got the same results as this guy did here:Don't agree with you both. My 50D has about the same noise as 40D at pixel level but slightly better when down-rez'd to the same size.
http://forums.dpreview.com/forums/read.asp?forum=1019&message=33050467
ie. the 40D has better noise performance. I don't care if I own the camera or not, just got to believe my eyes.
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pics: http://www.pbase.com/arn