I can't (yet) fulfill Michael's quest for an owner review of the Mamiya ZD, but I am on the waiting list and I had an opportunity to handle one (two in fact) at Focus on Imaging in Birmingham UK a few days ago. I even got to stick my CF card in a live one a shoot a few frames. I am undecided about it so if I don't buy one, I'd be interested to read someone elses review.
Robert White have been promised the ZD since the end of 2004 They and the UK importers are as frustrated as potential buyers at the delay. Any day now they should have some in.
My thumbnail impressions to keep you going pending a full review: big, like a regular dslr on steroids, quite comfortable to hold, mirror slap is reasonable for a MF camera, focusing is OK (tried with a 35mm lens). Rear screen is too small and you can't zoom in to 100% - you can zoom a little but not enough (wonder if that can be fixed in firmware?).
Of my 6 raw shots, 5 were underexposed. The one that was not was shot at 125ISO (base is 50ISO). There was noticeable noise, but fairly grain like. I'm guessing this is a 50ISO camera. Excellent detail, good colour. I decoded the raw file with both SilkyPix (its big in Japan, and I think its very good) and the latest ACR.
Noise was the big issue for me. I would want to try it at 50-100ISO properly set up and exposed. Lots of detail and the 35mm Maiya lens is obvioulsly very sharp even wide open.
With a Canon 1Ds III mooted for announcement in the fall, if that had 20 plus mp, I wonder why you'd buy the Mamiya in preference. If it had been released a year ago, it would have been a sensation, but now, the window of opportunity might be narrow. This is one of the reasons (plus the noise) I am having second thoughts.