Though you can read more about the Powershot G1X here (since the info was leaked early by Best Buy who shortly thereafter removed the page), the Canon T5 experienced no such leak. The T5 is an entry-level affordable ($550) way for newbies to take ditch a point and shoot for a DSLR. It features an 18.0 megapixel CMOS (APS-C) image sensor and a high-performance DIGIC 4 image processor. That pricing includes the EF-S 18-55mm f/3.5-5.6 IS II, and it does not appear to be available without that lens.
From the press release:
Detailed, High-Quality Images
Photo enthusiasts can capture high-quality images that are true-to-life in color, sharpness and contrast with the EOS Rebel T5 camera's 18.0 megapixel CMOS (APS-C) image sensor and DIGIC 4 image processor. Shooting is also made easy thanks to the EOS Rebel T5 camera's Intelligent Auto mode that helps deliver expertly optimized photos and offers improved scene detection, especially useful for shooting at night.
The Canon Rebel EOS Rebel T5 camera is also compatible with the full line of Canon EF and EF-S lenses as well as other accessories like the new Macro Ring Lite MR-14EX II. Ideal for close-up photography with EF Macro lenses, the Macro Ring Lite MR-14EX II supports E-TTL wireless autoflash in conjunction with one or more Canon Speedlite 600EX-RT flash units.
Full HD Video Capture
The camera's Full HD Movie mode helps make shooting high-quality 1080p movies simple. Capable of shooting in a number of recording sizes and frame rates, the EOS Rebel T5 enables easy manual control of exposure, focus and Live View features, as well as in-camera editing.
Intuitive Design and Full Creative Control
The new EOS Rebel T5 camera offers a full creative feature set - providing a variety of effects and settings to enhance photographs and video. Whether adding contrast for a more dramatic effect or boosting exposure for additional brightness, Canon's EOS Rebel T5 camera will guide users on how to hone their photo editing skills and view their original photographs from a new visual perspective. The camera features fun, creative filters including Toy Camera, Fisheye and Miniature Effect enabling photographers to expand their creativity.
Canon also announced a nifty new macro flash, the MR-14EX II Macro Ring Light. It features a guide number of 34.4' at ISO 100, its twin tube design allows each flash tube to fire independently, or simultaneously. White LED focusing lamps and two types of modeling lights allow for accurate previewing of the light's effect.