I've been using this camera for 2-1/2 years now. Even with all the market advancements, I'm sticking with my trusty DC4800.
In 2001, going with 3.1 megapixels was a big splurge. Today it's still a pretty high resolution, despite the 4 and 5 megapixel models now available. But I feel no need to upgrade. I honestly don't believe the average user needs to go higher than what the DC4800 offers. At this resolution, you can get good prints up to 8x10. Extra megapixels just mean more space wasted on your memory card.
The body is still sturdy, with a bit of damage from wear and tear. The worst is a hairline crack above the zoom dial. Additionally, the silver finish is wearing away at the corners. These signs of age are pretty minor considering the abuse I've put this camera through. I don't even own a proper camera case - I just throw it in my bag and go!
The inside mechanisms continue to work perfectly. I've taken over 9000 shots with this camera, so that's saying a lot! Even the battery charges fresh and new as the day I bought it.
If you're in the market for a used camera, I would definitely recommend the DC4800. I'd advise buying this even over newer Kodak models, which I've heard are not great. Kodak made a rare gem with the DC4800, and I'm hanging onto mine!