Hate to say it folks, but this is what I was afraid of.
This is AMC-Harley Davidson all over again.
1: A 10 Mpx sensor. OK good start. Why APS-C when Nikon (my apologize I misspoke, it is Cannon) has already started incorporating the full sized sensor? (don't give me this B**S** about cost.) If you are or ever have been in manufacturing, you would know this is bull. This is just a cost savings for the manufacturer, and doesn't cross over to the consumer that much. Trust me on this one, I worked for Motorola for 10 years.
2: 1600 ISO? My 7D has 3200 already! Why step down? In addition, why not go further and offer an ISO range down to 25? Or 12? Nikon does 50 ISO on thier 5600. And thats a point and shoot!
3: $1000? Now? Come on. If they want that magical 25% market share they have been blathering about, they wont get it with an under performer at $1000.
4: Memory stick adapter is fine. CF I and II/Micro-drive, good. Why not go all the way and offer the full course of memory cards.
5: The platform is the 5D, and it appears (at least right now) that they might not offer anything else that'll step up to the plate, like a 7D style platform, or even the much ballyhooed 9D that all of us KM nuts wanted so badly.
Personally, I may wind up switching to the Nikon system after all. The cost seems a little high to me for what is being offered.
Sorry folks, but this is a huge let down for me. Personally, I think both Minolta AND Sony blew it on this one.