Here's some things I found out (looking mainly for terminal-less solutions):
Paypal doesn't have the Virtual Terminal product for Canada. Only website shopping/checkout is available for us.
Verifone makes and resells two products called IPcharge and PCcharge. The former is web-only. The latter is a software package. Both can accept swiped card transactions with an add-on pin pad or card-swiper that you buy outright. The two Canadian resellers I could find (VersaPay and ChasePaymentTech) weren't up to speed... they said they couldn't do debit, didn't know of any compatible pin pads or swipers, and would still have to pay the card-not-present transaction fees.
Moneris was the most expensive and only offer the virtual terminal as an extra cost accessory to a basic POS term merchant account. They are nested with CIBC, BMO, and RBC so they have a bit of a monopoly going.
TD/CanadaTrust has MerchantPC. They had extra costs because I'm not a TD customer. Plus the in-your-face big bank pricing.
Cardex only seemed to have terminal-based solutions. I never got a call back from them.
In the end I went with InternetSecure. Their virtual terminal works on any Internet connection - even dial-up. They quoted me lower discount rates that listed on their website, and a lower setup fee. Plus, I can do debit transactions.
