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My first photography instructor with official credentials was Christopher Duncan, in October/November of 2010, and at that time he was still shooting and teaching with a 40D well after the 50D and 7D were on the market. (He had access to govt.-agency 50D camera at the time for official purposes; he did not specify whether he used his 40D while on duty.) Chris stated that his philosophy on buying cameras was to wait until a successor was on the market, and buy the older model at the close-out price. When asked about the 5D Mark II, for its better low-light perfomance, he said he was going to wait and see what its successor offered, and then, perhaps, buy the successor. (I have not yet checked with him, to see what he thinks of the 5D Mark III.)
Humanitarian photographer and photojournalist Karl Grobl used a pair of Canon 1D Mark II cameras, with 8.2 MP, until very recently, at which point they looked quite worn, and had been superceded by three generations of 1D-series cameras. He had bought them when his Nikon D1X was stolen, and when the successor 1D Mark IIN was introduced, he blogged that he did not plan to update. (When he finally updated his cameras, he returned to Nikon, with the D3s.)
These are two examples of professionals who did/do not feel the need to have the latest and greatest equipment, if what they have works well enough.
After spending too much too quickly at the start, I now try to consider these two examples when I catch the fever of "gear acquisition syndrome." The present is a quite good time to buy a new 7D. I paid over $1300 US to buy my second 7D body, in good pre-owned condition, in 2011. Now, I could buy a new one for just under $1200 US from at least two major internet sellers that have affiliate agreements with Cameralabs. (To benefit this Cameralabs forum and website, go to the support link, then click-through to the seller's site.)
I purchased a pre-owned 5D "Classic" in late 2011, after the 5D Mark III had been announced. Now that the last few 5D Mark II cameras are being sold, new, at about half of their original price, I am considering taking advantage of this good value, though I may elect to skip a generation. (Even though I shoot evidentiary images for official purposes, cropped-frame cameras are the norm for this, so I do not "need" a full-frame camera.)
_________________ Canon 7D/5D/40D/1D2N; Nikon F6, FM3A, & Coolpix A; Canon 40mm Pancake, 135L, 50L, 35L, pre-II 50mm 1.8, 100mm 2.8L Macro, 10-22mm EF-S, 28-135 EF, 400mm 5.6L; Nikkor 50mm 1.2 AI-S, 50mm 1.4G, 50mm 1.8D, 16mm 2.8D Fisheye, 180mm 2.8D, 100-300mm 5.6 AI-S; Tokina 17mm & 100mm 2.8 Macro
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