Going digital, any day now

I've been going over my digital photography wants again and again over the course of weeks gone by, and I'm a bit frustrated with myself because I can't seem to make a decision.

Here's what I have planned right now:

Canon 20D kit from B&H

However, things get tricky after that. I want to do sports and portraits, so I need a good piece of long, fast glass (telephoto with really wide aperture) to do that. I can possibly afford one of the following, but only one:

Canon EF 300mm f/4.0L IS Image Stabilizer USM

Canon EF 70-200mm f/2.8L USM

The 20D has a built-in popup flash, which is nice because it means I'm never without a flash. However, it's rather weak, so I'll have to invest in a dedicated flash to use when I need serious flash work. Here's what I think I'll get:

Canon 550EX Speedlite

Also, to do sports, I'll want to do a lot of vertical shots, and I hate twisting my arm above the body all the time, so this might be necessary:

Canon BG-E2 Vertical Grip/Battery Holder

Until then, I'm stuck with my 23-year-old AE-1 Program.

****Edit****

I'll also have to pick up a lensbaby for art, wild portraits and such.