After reading about the D7000 as much as I can it seems that most think its low light capability is still not as good as the D700 but very close and no where near as good as the D3s. Another thing it seems many more functions are in menus vs the direct control of the D700. But remember until a member here gets one or a trusted reviewer I and everyone else is still guessing and going off paper vs real life experience.
Now am I bashing the D7000 no way this is a killer DX camera and it will rule the DX world until that is the D300s replacement comes out. But there are very big differences in the D700 and D7000 and to a lesser extent the D300s and D7000.
But here is how I see them stack up on paper and to a lesser extent in real life based on some very early reviews and posts online from the D7000 previews. But again we a treading on thin ice proclaiming a camera a winner or loser without even having used one. But for what its worth here is my tow cents worth.
DX D7000 vs FX D700 IMHO
Low light performance: D700(based on reading this could change)
Over all operational speed: D700
Metering: The D700's meter is great and it shares it with the D3s and D3x but it seems the new meter in the D7000 maybe fantastic. But at this time no winner since I have no clue how the new meter will perform.
Viewfinder: Tie D7000 is 100% but DX still is tunnel vision vs FX viewfinder of the D700
AF speed/system: D700, 15 cross-hair AF points and over 51 AF points(but this could change since this is a new AF system and it may prove to be better but it has less AF points and fewer cross hair type)
Build: Close but D700 again. Plus little things like a viewfinder shutter in the D700 is so much better than the small plastic cover we all lose and the D7000 is not fully weather sealed and only partially made of metal the whole front is plastic.
Live view: Seems both can AF in live view and the D700 has a tripod mode I can not see if the D7000 has this. But the D7000 has an easier way to access live view so its a TIE.
Battery and Power: D7000 wins because the new battery is very cool with a battery safety feature and longer life, but if you have a D700 and the MB-D10 and add the El-EN4 then the D700 wins.
Price/Value: D7000 wins this one I love my D700 but fair is fair the D7000 is an incredible value for the money
Backward compatibility with older lens: TIE(this is a first for Nikon to have a non pro DSLR meter with Ai and Ai-s lens) No on second thought the D7000 wins since you get this in a 1200$ body!!!
Movie Mod 7000 all the way since the D700 has none but the D7000 HD movie mode seems ground breaking!
Storage: D7000 by a mile it has two cards and I am one of the few who prefers the SD card and no pins to bend.
NEF files compressed/uncompressed: D700 wins if the specs from Nikon on the D7000 are correct stating that 12/14 compressed NEF, they do not list an uncompressed NEF option. But this still maybe an option and not listed in the specs.
Geesh in the end the D7000 is well FANTASTIC and at 1200$ USD nothing on the market in its class can touch it. But the D700 is not in the same class and is not truly aimed at the same target group though many on the fence between the two will pick the D7000 due to its features and value! I will say this when it comes to value for the dollar it is hard to argue any camera right now comes close to the D7000!!!!