As an old English teacher, I wouldn't say that I am "hugely disappointed" by the price of the 5D3--that would be assigning physical dimensions to an emotional state. How about "moderately disappointed" and a little surprised that Canon didn't follow Nikon's lead in pricing?
My vote in the poll was to keep my 5D2. Nevertheless, on paper at least the 5D3 seems like a sensible upgrade to the 5D2, and if the real-world performance matches the specs, I'll upgrade--but not until the price drops.
Still, I can't help but shake my head in admiration of those clever folks in Canon's marketing department. Nikon introduces a well-featured camera at an aggressive price, and rather than meet the competition, Canon neatly bookends the D800 by keeping the 5D2 in production at a a significantly lowered price. Here I thought I was the owner of a mid-level full-frame camera with aging-but-still-serviceable technology. Turns out the 5D2 is actually a state-of-the--art 2012 entry level full-frame camera. Who knew?
What's really nice about this strategy is that Nikon has no way of responding. Not only does the D700 lack the now-obligatory video, but Nikon can no longer legally sell the camera in its home market of Japan. (Wouldn't you know, Sony's A900 also lacks video.) And you thought those boys in Canon marketing were overpaid parasites.
I expect Canon to keep selling the 5D2 for as long as its aging technology can divert first-time or modestly bankrolled buyers from Nikon or Sony. When that's no longer possible, I imagine the model will be retired and the 5D3 will be repriced in line with the D800. In the meantime I might buy some glass or the new flash.
The question for me then is how long will it take for the 5D3 price to soften? And for a couple of reasons I'm actually optimistic that I'll have a new camera within 12 to15 months. For all the hype, hoopla and hysteria, the hallelujahs and the gnashing of teeth surrounding the recent introductions of the 5D3 and the D800, we still know almost nothing about the comparative performance of the production cameras either in testing or in everyday use. I expect both to be good, but if it proves difficult to pinpoint $500 worth of value for Canon's premium, I suspect the price difference will erode pretty quickly. Go Nikon.
The other factor which will I believe affect pricing will be how current owners of higher-end Canon DSLRS perceive the usefulness of the 5D3's upgrades in relation to their present cameras. And here I think the clever boys in marketing have made at least one serious mis-step. I'm not a videographer and I don't pretend to know their priorities, but I do know that video was the sine qua non feature which gave the 5D2 its enormous market advantage. And it can't be good news for Canon that several prominent DSLR videographers are already on record as saying that the 5D3 is a much larger step forward for still photography than it is for video. Vincent LaForet, the Godfather of DSLR video, is aghast at the lack of clean HDMI output from the new camera. "Why? Why? Why?" he asks in exasperation on his blog. (Nikon has it.)
Likewise, several videographers and commentators simply assumed that the 5D3 would take the next step to 1080p output at 60 fps, and expressed shock when it didn't. It's a capability now found on several mirrorless cameras, which also feature video autofocus superior to anything Canon has yet demonstrated. More people might feel Canon's $500 premium is justifed if it included a second processor (a Digic 4 or perhaps a 5 with or without the +) to provide the processing horsepower to handle 60 fps.
All in all it seems like a golden lead squandered. "Explorer of Light" and loyal Canon champion Laforet is so disenchanted with the specs of the new camera that he goes out of his way on his blog to tell his patron company and the world that he will not be making a video with the 5D3. And just in case Canon executives are oblivious to the fact that this a howl of protest, LaForet remounts a page-one link to his seminal video, Reverie--shot with the 5D2. Could there be a clearer slap in the face from a videographer?
If the 5D3 can't maintain the 5D2's enormous sales advantage among videographers, I'll have my new camera about as soon as I can afford it.