I recently did a side-by-side comparison of the Hasselblad H3D2 with 39 MP back and my Canon 1DsMk3.
Hello Henry. Were you at the Frans Lanting seminar in St. Louis back in March? I think we may have exchanged pleasantries. Or maybe it was the Art Wolf seminar last year.
Anyway, I will probably get flamed by others on this forum for saying this, but there is some merit in what you are saying. I've done my own comparison between my D3 and my P45+ on my Mamiya 645AFD II. Using different focal lengths to ensure that I got the same number of pixels on the same field of view, I compared "pixel quality". I was fully expecting the P45+ to blow away my D3 at the pixel level, but it didn't. The P45+, at the pixel level, was better (crisper, mostly), but not dramatically so. In 14-bit mode, the D3 has tremendous ability to pull clean detail out of the shadows without suffering posterization and other artifacts. In that regard, I'd say it's on a par with my P45+. And the D3 actually has a little more highlight headroom than my P45+, so in that sense, the D3 is actually a bit better (tho again, the difference is slight). If the D3 sensor didn't have an AA filter, I'd say the pixel level quality would be a wash. I can't speak to the 1DsIII, but I would expect it to be similar.
Now, having said that, there are of course caveats. Obviously, if I were using both systems from the same place and shooting the same composition, the higher resolution of the MFDB is going to blow my D3 (and even your 1DsIII) away. Given that pixel quality is comparable, however, you could stitch and get almost the level of quality AND resolution of the MFDB. But stitching always makes life more complicated. Much more post processing. Difficulty with dealing with things moving in the frame between stitch shots. And there's the time factor - catching that fleeting light when you have to take a bunch of shots is obviously pretty difficult. All in all, stitching can get you a lot, but it comes at a high price, and many times just isn't practical. For all these reasons, I won't be giving up my P45+. And for landscape shooting, I would never use the D3 if I have the P45+ available, even if stiching were an option (remember, I can also stitch with the P45+ for even higher resolution).
The bottom line is that modern 35mm DSLRs with low noise sensors and true 14-bit low noise A/Ds deliver very very good pixel quality. Shadow detail retrieval is excellent. Color is very comparable. I feel that if it weren't for the AA filter, the latest high-end DSLRs would essentially match the pixel quality of MFDBs. The two big advantage MFDBs still have over high end DSLRs is resolution (due to the MPs) and crispness (due to the lack of an AA filter). For me at least, those two advantages, plus the issues with stitching, makes the P45+ a no-brainer for those high detail shots.
Regards,
Mort.
P.S. I should point out that I use my P45+ for landscapes. I am a resolution and crispness junkie, and if I had the patience, I'd be shooting 8 x 10 view cameras. So my D3 (and probably your 1DsIII) would always be lacking for me, even with stitching. If I were a studio shooter, with optimal lighting and high speed strobes, which I think might play to MFDBs strong points, or if I were shooting better glass than the Mamiya stuff I have (35 AF, 55-110, 80 AF, and 150 AF), I expect I would see a greater difference between my D3 and P45+ at the pixel level in favor of the P45+. This is one reason I am mulling switching my P45+ to Alpa or Cambo bodies and Rodenstock HR lenses.