Well, the kit lens is ok but not great, the 75-300 is *blurgh* (I have one of those but it doesn't make my forum sig as its chuffin outdated dreadful junk) and the rest well, quite frankly junk too.
Yes to buy those extra bits "properly" will cost you more than the difference between the body only price and the thousand quid, but really if you are buying the sooper-dooper 40D you won't want a big pile of poo to go with it.
I wouldn't even say you were getting your full money's worth of "junk"...
Get a body only and buy the bits you need as you need them.