The 5D is not the camera that Nikon targeted with the D3. The 1d MKIII is the one it targeted. The 5D still has no competition and the guys over in the Nikon forum can back that up because they are already asking for a 5D killer. That is why Nikon said that Canon need at least two years to catch up... because thats how long they are going to keep the 1d MKIII in production. Also, look at the price difference between a D3 and 5D. You can practically buy two 5d's for the price of one D3.

Also, the next generation 5D won't compete with the D3 either. It will offer what it has already offered: a low cost FF camera with some features dumb-downed to keep cost down. And more than likely Canon will probably up the megapixels to 16 but keep it in relatively the same body. Whether or not Nikon will have an answer for the 5d or 5d II remains to be seen. Personally, I don't think they will because it will eat away at their D300 sales considering its price.

Nikon knew the one place that they could hurt Canon was with a FF sports camera with blistering speed. They knew that Canon would stick to its 1.3X crop and that they could have a leg up if they could advertise the first FF sports oriented camera and with more resolution. I think they have their work cut out for them though considering that so many pro's switched to Canon and most news agencies have gone to Canon as well.

Just my .02
Erik