Hmmm, yes and no. It's a wonderful 'walking around' lens due to the extremely useful focal length range and IS function. I use it when I want to travel light with a single lens. But corner sharpness is just okay, and it vignettes severely on a full frame sensor at anything wider than f:8, which makes it 'slower' than its nominal f:4 speed. The vignetting makes it difficult to use for stitching panoramics because the sky will show banding without a lot of processing effort; a significant PITA.
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That sucks.
Well, here's my idea on this subject. The 1DSMKIII is not the problem. It's a fantastic camera. It will only get better as lens updates become available. You can also look at it by analogy using computers. I bought the first true dual core 64bit processor back in 2005, and it was the flagship AMD 64 x2 4800 running at 2.4Ghz. I bought it because I knew that in time software would take full advantage of its ability to process in 64bits and full multithreaded capability. As of today, we still haven't seen this technology taken advantage of, with the exception of some games now being developed, but when PSCS4 comes out in full 64 bit mode, my speed is going to ramp up exponentially when rendering. In other words, the 1DS3 and the AMD 64 dual core at it's inception both give tons of head room for improvement, without having to update the CPU or the camera.
The disanalogy is that by the time software takes complete advantage of what the AMD 64 X2 CPUs offer, they'll be dinosaurs. Even so, PS speed may increase so drastically that I don't need to buy anotehr CPU for several more years, which extends my upgrade for my main computer from 3 years to 5 or even 6.
The point is that the 1DS3 is far ahead of glass.
On the other hand, if you can afford it, by both. Canon in the right hand, Nikon in the left, and your money speeds the development of new lenses from both companies, thank you very much