Anybody shoot Tethered? I just started using my canon with a USB connection to my imac at the studio. It works pretty well, but the 3 second delay between shutter and preview is a little slow for me. I hate how the display on your camera shows you something that isn't very accurate. With the full screen display you get a really good impression of the image and everything about it. Its also really handy for Clients, since they can see there images right there and then. I'm thinking about getting a WFT (wireless file transfer) base for my 40D so I'm not dragging around a cable at shoots. If you have used one of these let me know. If you have any question about tethering your canon let me know.

the cheaper way would be to by a eye fi card and an adapter to use it for cf. I have not used the transmitter but seems quite expensive. Something I do to show clients the photos is shoot attached to a 7" portable dvd player which will display the image on there instead of the back of the camera.

I thought about the WFT for my 40D and then the 5D mkII. came along and ate my budget... The timelag sounds like not enough RAM or perhaps you're using USB 1.0. If your Mac is recent, try another USB cable and port, update your Canon utilities and check your memory usage when shooting tethered. You didn't specify which capture s/ware, but I would strongly recommend Lightroom 2, which opens captures on the fly from a 'watched folder'.
I'm told that the WFT needs an extra battery and isn't ideal, at least for the 40D (setup is quirky; you need an Airport and then PP software like LR, etc. and it may not solve your current problem).
The workaround with an eye-fi sounds good, but you need to find a CF card adapter (will it still work?) and remember that these cards have very slow write speeds, which might further slow down your tethered display and definitely lower your FPS rate if you're shooting bursts.
Hope this helps.

I've sing gotten a 5d and the transfer time is about twice as fast.