They've finally done it. Canon has been talking about integrating HD Video capability into it's EOS system for a couple years now and they have, by all indications, done it in high-style.

I've taken a long, hard look at the tech specs as well as the sample videos Canon has provided and all I can say is, wow. They've really taken it to the next level. This is going to open up so many possibility's with regards to news and wedding photography. Some of the still frame capabilities such as the 21 MP sensor, (3) different levels of RAW, and ISO 25000 sensitivity are equally impressive. 

ISO 25000?!?! With low noise at that high a sensitivity you now have no excuse for missing those tender moments on the dance floor of a dark reception hall.

Take a peak at it all for yourself: Canon UK's Press Release

DPReview also has some really nice images of the body to gaze/drool at.

I know where my pennies are going for the next 6 months.

EDIT:

This is unconfirmed as I've just read it from one source, but it does jibe with Canon's history of design and build quality: apparently the 21.1 Megapixel sensor in the new 5D Mark II is the exact same sensor that sits in the $8000 1Ds Mark III, with slight improvements. Now the 1Ds is more than just a high-res sensor, it's functionality and creative control are unsurpassed anywhere. However, that sensor plays a very large roll.

All I have to say is watch out, at a $2700 price point the new 5D MII could become the most commonly seen "pro" camera. I think that Canon has found 1Ds sales a bit sluggish, if sales reports are any indication, and they've decided to put higher quality sensors in their prosumer bodies. After all, corporate sales are mostly centered on volume.

Now Canon doesn't make their money on their high-end camera's - not at all. An $8000 camera doesn't turn much, if any, profit if you only sell 10 thousand a year. Think of the R&D and high quality of production they have to have. Canon makes most of it's money on printers actually, but camera-wise they make the bulk of their profit on the lower end consumer and prosumer cameras and lenses. Since it's inception in 2005 the original 5D has sold over 2.25 million bodies worldwide. It's current retail is $2350 @ B&H. Do the math. I don't know what their production cost is, but it still has to a pretty profitable camera.

I imagine that the 5D MII will be very hard to find once release day rolls around.