Let's get the facts out first. I've been a Nikon shooter for several decades, currently with a D300 (haven't made the leap yet to full frame, but that's next). I'm an amateur, but shoot at a pro level. My focus is on music and sports photography, and I like to have a good camera with me when I travel (my last ride-along P&S has been a Lumix DMC-TZ5). I shoot in a variety of conditions, but what I need must a) provides high quality images, b) be really portable (fits in my purse, can get into concerts that ban DSLRs unless you're shooting on assignment) c) have a longer lens option (200mm is 'table stakes') and d) provide the flexibility to twiddle the dials to find the best combo of ISO-aperture-shutter speed for a particular situation. Having HD capability is a nice-to-have.
I've been shopping for a new P&S easily for a year. Got interested and then uninterested in the Canon G11/G12/S95 because the lens is too short (even the extenders don't push it out far enough). Similar higher-end P&S cameras don't have the length I was looking for, or didn't fit the size criteria (ruled out the 'super zooms' largely because of this).
Nikon got my attention first with the P100 - but I read about image quality issues. When I learned about the P7000, I was intrigued. Could Nikon overcome its perceived issues and produce a P&S that makes picky photo people happy?
I made the plunge and bought the P7000. After reading a few more reviews and having a burst of post-purchase cognitive dissonance, the best plan was to just take the new acquisition out and A:B it against my D300 and the Lumix in a variety of conditions.
I'm glad I did. First impression: lots of dials to set and menus to learn, so to make it easy I just left it on the 'green' setting and let the camera make the decisions. Immediately it was clear that the Lumix's photo quality wasn't even in the same class as the P7000 (it looked good until you held it up against the others). The P7000's quality should be compared against the DSLR class.
After carrying a DSLR rig around, the P7000 seemed like a featherweight around the neck. Great build quality - solid metal feel. I don't like the AE-L and AF-L button being next to where you thumb is, but my fingers will learn. (Wish there was a wriststrap option that shipped with the camera too.) LOVE the display, and the ability to see the histogram data. Feels like my D300 in many ways.
Now to the images. Shot with the D300 and the P7000 looking up a tree trunk. Depth of field, image clarity and WB were surprisingly similar. Wow. Tried it again in both indoor and outdoor conditions, and saw little to no difference. In fact I preferred the P7000 images several times to the D300 - they looked better. After several hours of shooting both cameras, my post-purchase cognitive dissonance was gone and I am eager to learn more about my new traveling 'friend'.
I do agree with the reviewers who note that the dials and settings aren't particularly intuitive. The instruction manual is about on the scale of a DSLR. It also - for now - lacks the really long lens capability I'm looking for (I believe that Nikon will be introducing accessories soon, including a telephoto extender). I wish that the lens were faster in the lower end, and I wish that Nikon did a better job of removing high ISO noise (this is a criticism for non-full frame Nikon bodies in general; I'm hoping that RAW and post-processing will clean this up). But the advantages of the camera - DSLR-like photo quality, Nikon fit/finish and build, and a longer lens than comparable high-end P&S - make me believe that Nikon is going in the right direction and that this is a break from its previous P&S cameras.
If you don't have size constraints (as I do), buy a DSLR - you will get more in the long run. If you want DSLR-like performance in a P&S, definitely take a look at the P7000.
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UPDATE: I've put about 1,000 shots into the camera over the past week, including one day of a music festival where I shot all but maybe 3 shots with the P7000 (see the photos here -[...]data is on). Net: though I still have not figured out the nuances, you can get really good photos out of the camera, but it does require learning how to use its capabilities. It is slower than the DSLR, but not so bad that it gets in the way of getting the shot. The P7000 has developed an issue where the lens cover will not retract completely, which causes the corners of the frame to be shaded. So, this must be sorted out. This is unfortunately not what I expected from Nikon, even in the first release. I'll report back in based upon what I find out, but for now I'm keeping the 5 star rating.
UPDATE (NOV 2010): The camera returned from Nikon in time to take to SFO. Nikon adjusted the shutter (works fine now) and the white balance. Interestingly the shot count was advanced about another thousand, so I trust they took the time to really check it out. I've finally figured out how to do quick aperture/shutter speed adjustments in manual mode, and am finding as I learn its controls and tricks, it's easier and easier to get great shots. I'm amazed at the 'night' setting - never fails to render something really interesting and usable. White balance in this mode has been most impressive - even in darkened rooms and in street shots at night, the photos come out rendered in the right colors, in focus and with plenty of light. I'm keeping the 5-star rating.
UPDATE (Feb 2011): The shutter has not hung up again but the service guy who looked at it last noted that he thought some of the parts were 'worn'. I still really enjoy the camera, but did purchase a 3 year extended warranty. I would recommend that anyone else do the same if they buy it in the near future, up until the time that the reports of the shutter issue die off. I'm attributing it to the initial release of a very new camera design, and there are often things they will improve upon over time. But in contrast, my new D7000 is working like a champ right out of the box, leading me to surmise that their design and manufacturing standards may be higher for their DSLRs than their P&S cameras. Just an observation - does anyone else have a similar experience?
UPDATE (Mar 2011): Spoke with a Nikon person during SXSW who advised me to make sure I had the firmware updates loaded into the camera. Another reviewer commented that it's still in beta - I would tend to believe that. Still enjoying the camera. I did tell him that I am wishing for them to take a great low-light sensor and put it into a P&S footprint, and he noted that pretty much everyone wants that too. Nikon - where is this on your product roadmap? I'll camp out to buy one of these! Nikon Coolpix P7000 10.1 MP Digital Camera with 7.1x Wide Zoom-Nikkor ED Lens and 3-Inch LCD - Digital Camera - Raw - Point And Shoot - Nikon'
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