Congrats on acquiring your D700! You will love ISO 1600 (if not 3200+)!!!!
About the two (related?) issues, here,
= 1) camera<==>Mac/Finder connectivity, and
= 2) PhotoShop (.NEF file) processing,
I would suggest the following.
===>1) Use an external (high-speed/USB 2.0) CF card reader, not the D700, to read your CF cards.
A simple $20 (less, on sale) SanDisk SDDR-92, for example, saves the D700 battery and wear&tear on the D700 mini-USB connector, and it allows full separation of workflows for shooting and processing. The external USB 2.0 CF reader/writer should "automatically" appear, like a flash/thumb/jump drive, as an external/removable disc (and you can ignore any special software to make "one-touch" buttons active!).
Assuming your Mac is not one of the latest editions missing FireWire, you have the choice of Firewire ("400" or "400/800") or USB 2.0 ("Hi-Speed") connections; I think a good USB2.0 CF reader, like the SanDisk SDDR-92 (ignore the software!) would be the best performance/price purchase for most folks.
===>2) To process D700 ".NEF"/raw files in Photoshop, you need (at least)
version 4.6 of -EITHER- the "Camera Raw" plugin -OR- the "DNG Converter" application.
So, because you have CS3, you should be OK with the Camera Raw 4.6 plugin. (Otherwise, (like me, with CS2and a new D700) you must use the external DNG 4.6 Converter application to convert D700 Nikon .NEF/raw files to Adobe .DNG/raw files before processing in Photoshop.)
You can confirm what version of Camera Raw plugin you're using from the Help>About Plugin>Camera Raw... menu entry (on Windows, similar on Mac).
Hope this helps.
...Later:
Checked on a nearby Mac: D700, indeed, is "different"; it does not have a menu setting for MSC (Mass Storage Class) vs. PTP (Picture Transfer Protocol), so it appears as a Digital Camera, not a Mass Storage device.
On the nearby Mac, connecting my D700 via USB caused iPhoto to run. While the D700 showed in the iPhoto side-bar menu under "DEVICES" it did NOT have the eject icon (because it was recognized as a PTP camera, not a MSC disc).
Perhaps this is due to the new, expanded PTP/MTP introduced with the D700/D300/etc.?
It looks like you can use Apple's "Image Capture" if you must use the D700 as a car reader.
So, it looks like the card reader is really the (expected) way to go.