The Nikon D700 is a downsized version of the flagship Nikon D3. But Nikon kept virtually all the features of the D3, while slimming the body to a svelte 35 oz. or just over 2 lbs. (995g.).

The feature set is almost a reprint from the D3 brochure:
Nikon's original 12.1-megapixel FX-format (23.9 x 36mm) CMOS sensor: Teamed with Nikon's exclusive EXPEED digital image processing, the D700 delivers breathtakingly rich image quality.

Broad ISO sensitivity up to 6400 and incredibly low noise: Super low-noise performance from 200-6400 ISO, with the added versatility of Lo-1 (100 ISO) Hi-1 (12,800 ISO) and Hi-2 (25,600 ISO).

Continuous shooting up to 5 frames per second: Shoot at up to 8 frames per second with the optional MB-D10 Multi-power Battery Pack.

Three-Inch, super-density 920,000-dot VGA color monitor: High resolution with 170-degree wide-angle viewing, calibrated color and tempered-glass protection assure confident image review.

Two Live View shooting modes: Choose from hand-held or tripod modes to suit shooting requirements.

Rugged magnesium-alloy construction: Along with extensive dust and moisture protection and a durable shutter mechanism tested to 150,000 cycles, the D700 merges pro D-SLR performance with expanded agility.

Fast, accurate 51-point AF with 3D Focus Tracking: Exacting autofocus precision, plus three Dynamic AF modes.

Dynamic Integrated Dust Reduction System: Effective quad-frequency, ultrasonic sensor cleaning minimizes image degrading dust particles.

1,005-Pixel 3D Color Matrix Metering II: Legendary Nikon exposure accuracy aided by an onboard database of over 30,000 images.

Nikon's exclusive Scene Recognition System: SRS further extends auto-exposure intelligence while also advancing white-balance detection and autofocus performance.

Nikon Picture Control settings: Advanced color control with 9 customizable settings and 4 preset options allow fine tuning of image appearance preferences.

Active D-Lighting with NEW Auto mode: Unique three-phase dynamic control to capture previously lost details in shadows and highlights while maintaining normalized contrast.

Here are some images to go with all the (fully justified) hype: