now that Nikon has well and truly caught up I think that time has come.
Nikon didn't have any catching-up to do. What they have done now is created a better differentiation between models.
The D3s always outshone the 5D2 but was more expensive. The D700 matched the 5D2 in everything except megapixels.
Now Nikon have introduced the D800 and the D4 which, in very different ways, take the full-frame choice for serious amateur photographers several steps forward and retained the D700 as a third option.
I suspect that Canon will not (for the time being) attempt to out-resolve the D800 but will aim their much-forecast 5D3 at a mid-point between D800 and D4, concentrating, perhaps, on addressing some of the problems of their older model.
But hey! Both Nikon and Canon produce great cameras that can produce image quality that was only available in medium format a few years ago. As most amateur photographers have much more money tied up in lenses and accessories than in camera bodies, I can't see many jumping ship. I think that the magazines that are predicting a mass defection from Canon to Nikon have simply got that wrong.