I can't tell you how many times I'm asked about the number of megapixels my camera shoots. Honestly, I don't know. Manufacturers keep increasing that capability and people keep upgrading thinking that their photography might improve.
One of the best photographers I know, Franco Salmoraghi, sent a link to this article in the New York Times mocking the constant improvements in digital camera equipment. Mentioned in the article is Alex Majoli, a photojournalist known for shooting with a point and shoot camera. Here's an article about his technique: http://www.robgalbraith.com/bins/multi_page.asp?cid=7-6468-7844.
This is fun stuff. A good camera is a wonderful thing, but it really all boils down to the person behind it.