As a Canon owner I can only cheer the new Nikon D700. It appears to be a D300 on the outside but a full frame sensor D3 on the inside. Canon will be under pressure to produce something special with the next 5D not just a 40D with a ff sensor. Or they may poduce a 40D with a ff sensor, but then the pricing will need to be well below $2000. Ideally Canon will produce both.

The preview of the new Nikon is at: http://www.dpreview.com/previews/nikond700/