I did similar... I have a D700 and got a D5100 with the kit 18-55 VR, then got an additional 55-200 VR for travel (both are really great lenses for the money) and I also have a Canon S95.
It's a good camera, the weak point is the less sensitive autofocus system, but picture quality otherwise is great as the sensor is the same as the D7000 like you said. For sports, the focus system is a little bit too simple, otherwise everything works great. It has a lot features I like compared to the D3200 (bracketing and flip screen, better controls), so i didn't go that way. The D3200 was way too dumbed down, and I didn't need the extra MP from 16-24... 12 would be fine.
I have a perfect case that holds the body with the two lenses, all very compact.
BUT... I don't use the D5100 much, the S95 is very handy, and the D5100 is not that good for sports. Now I'm thinking about selling it before the value goes down.