Yeah, I have been debating this for a while, but I already have a smaller point and shoot for days when I really want to be pretty minimalistic. Otherwise, carrying the extra camera weight/bulk is fine with me. I'm not setting any records no matter how light weight I go. Basically, a few truly high quality photos from the trips I do are worth the tradeoff for me. Emphasis on the "for me."
Sorry, but that's a no on the $175. If I didn't need the funds to put toward the DSLR, I'd be happy to pass it on for less. Alas, being a grad student doesn't leave much room for financial generosity.