Looking to get into the whole "Strobist" thing...

[frXnz kafka]

If you have flashes that support it, you can go above the native maximum flash sync speed. BTW, you can do that with or without a sync cord if you are using Nikon flashes. Google Nikon CLS.

Actually the D40 can do it with any flash, iTTL or not. The D40 has the electronic shutter that Mr. Hobby loves so much. Only downside with this vs. FP sync with iTTL flashes is you start to lose power when shooting faster than 1/1000.

 

[JerryPH]

Only downside with this vs. FP sync with iTTL flashes is you start to lose power when shooting faster than 1/1000.

You will lose power with both, just a LOT faster/more with FP sync as you are doing it in "chunks" instead of one nicely synced blast of the flash if done on an electronic shutter.