JohnAX, thanks for the MD information. I just got my Canon G1 and was contemplating purchasing a 1Gig, but thought it wiser to purchase a 128MB CF and another 1Gig. This way when the MD fails I have the CF as a reliable backup. But after reading your post, perhaps the wisest thing to do would be to get 4 or 5 pieces of 128-256MB CF.
For those interested, this is the best forum for Canon digital camera enthusiasts. I visit it everyday!
http://studio-on-the.net/photography/forum/index.php