> I'll be using pictures mostly for on the computer,
> posting to the web. Don't really need to print them.
My screen is 1024x768, which is 0.79 megapixel. If your camera provides anything beyond that then it is a waste for internet use.
Instead of megapixels you should look at the other features you need such as how much zoom, what type of memory cards, what type of battery, physical size of the camera, ease of use, how close will it focus, etc. If you want a basic camera then you can probably find an inexpensive 2megapixel camera that will work fine for you. If you want a lot of features then you will probably have to buy 3-5megapixels just to get the features.
As far as equalling 35mm, this comparison won't matter a bit for internet use. However if you actually want to make prints you can see that Canon and Nikon both make 6megapixel digital SLR's that are popular with professional photographers.