I've been shooting with the S5 as my primary camera lately. So far I'm impressed with the camera. Yes, it's slower than the D200 and the menu system takes some getting used to but the dynamic range is incredible.
http://www.texasphotoforum.com/forum...ad.php?t=51125 http://www.texasphotoforum.com/forum...ad.php?t=51282
And the colors are impressive.
http://www.texasphotoforum.com/forum...ad.php?t=51611
I did a short, semi-scientific test to see how the high ISO performance compares to the D2X. These are full frame shots (well, as full as a Nikon can get

). They were shot in RAW with no noise reduction or sharpening applied. They we shot hand held with a Nikkor 17-55 on both cameras. Lightroom 1.1 was used to convert. The same conversion settings were used on all photos.
ISO 1600, D2X
ISO 1600, Fuji S5
ISO 3200, D2X

ISO 3200, Fuji S5
They all look good at this crop level. Now to zoom in to 100%.
ISO 1600, D2X, 100% crop
ISO 1600, Fuji S5, 100% crop
ISO 3200, D2X, 100% crop
ISO 3200, Fuji S5, 100% crop
I think you can see that the D2X out resolves the Fuji but the Fuji does better at high ISO. I tend to agree with other reviews that have said that despite Fuji's claims this is not a 12MP camera. It's more than 6MP...but definitely not 12.