I don't like that Nikon is focusing more and more on the cheaper stuff. I do think that at some point it would be nice if they put out a full-frame sensor, or even ventured into medium format. Just as an option. They obviously go for very specific markets Nikon does (D2H anyone?), and if anything I thought that something liek the D2h showed that Nikon cared more about what the users really needed than just Megapixels. I'm hoping that they are just putting the 10mp sensors inthe D40s just because they can get them cheaper.
I still don't get how people don't see it. Nikon *has* to focus on the largest growing segment if they're to capitalize anywhere else in the market. The fact that they've basically ripped a significant part of Canon's market share in the DSLR market *and* that the market is still growing is telling them that they're focusing on the right part of the market.
The D3 series camera has apparently been in pre-production for over a year. That's probably indicative of them deciding at some point early last year to re-do the engineering because of something either very wrong or very promising in R&D. The D3 will be on the market when it's ready- no sooner, no later.
Nikon and Canon have both been really good about providing photographers with great tools, and upping the ante each revision.
Heck, even the BetterLight 4x5 backs aren't "full frame" for that format, that doesn't mean they don't produce better output than most photographers are capable of taking advantage of most of the time.
Medium format doesn't make sense at all for Nikon. They're out of the process lens game- not much else they make has coverage. It's a shrinking market, where the R&D and production ramping costs for a body, lens mount, line of lenses and accessories really aren't worth it for a new player that tries to get into the "digital back for an existing camera" game, let alone a camera manufacturer.
Rumore is that at least one of the D3 series bodies will have either full frame or a 1.1 crop factor. We'll have to wait and see- neither Nikon or Canon telegraph their moves.
It's a given that their camera division revenues, market share and growth are attributable to the low-end consumer DSLR space as much as anything though- that's a good long-term strategy if those customers have a good experience.