The only down side with gray, that I can see, is the re-sale value on bodies.
Buyers, like on ebay, dont seem to like gray and you may not get as much
for it when it is time to sell.
This, of cource, is just a problem on bodies with differnt names like
elan II and EOS 50.


-jim

> 
> I am a recent convert from Nikon. As a Nikon owner I was always careful to
> purchase only equipment that had a U.S. warranty because apparently Nikon
> would not repair gray market goods -- even for a fee. Is the same true with
> Canon? I am interested in a 550ex flash and am considering a gray market
> item to save money. I don't mind gambling and winding up having to pay for
> repairs if something should go wrong with it. But I don't want my purchase
> to be unrepairable.


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