Nothing wrong with moving up. But the build quality and features are worth about three stars. In the store, this feels cheap. Pics are better than P&S pics, so most give this five stars (due to the MUCH larger sensor in this compared to almost any P&S; the same is true for all DSRs). I'd advise getting a Canon T3i or T2i if you can stretch a bit. Feels better in the hand, more capabilities, better build quality (e.g., articulating, high res LCD), better features. For other new DSLR users, try the Nikon D3100 if you prefer which comes with a pretty good kit lens and is better built than the T3 --- do not get the Nikon D3000 which is cheaper but uses old tech and is not worth its cheap price. An idea is to skip the T3 with the Canon kit lens (if one still wants this camera) and get the Canon 50mm/1.8 for nicer pics and probably at a cheaper (or similar) price.
This DSLR is like a starter DSLR or starter motorcycle or starter house --- you'll probably want a better one soon enough and can save money by buying it now for not much more. (Or it may well just sit on your shelf as it is not as well made as some P&Ss are.)