Posted By rohojamagic:
What I would like to know is would it be possible to submit digital only images to Istockphoto and recieve a good income?
The obvioius answer is it depends on what you submit

I have a few images here that are scanned from film negatives, but the bulk of my portfolio is digital images and last month I sold 532 licenses here at iStock - many of those folks with shinier cannisters than mine would consider that a good day at iStock.
I do detect a whif of negative attitude about digital images, and I guess that might have been understandable a few years back but if you look at images from the current crop of Canon and Nikon DSLRs I think you'll see that the digital images here are of a quality film would be hard pressed to match.
I started out using lenses from my film camera (Canon) when I first switched to digital, and it is possible to contnue using both film and digital 35mm cameras with the same lens investment if that's what you want to do. I haven't shot any film lately though as I think my Canon 20D beats the quality every time (I can't say anything about medium and large format as I have no experience with those).
The learning curve here can produce some frustrating experiences, but once you've got the hang of what'll get accepted and what wont, it can be a great part-time income. Why not give it a try and see how you like it?