I have 2 Nikon D-7000s, and a D-800 on the way. That said, it's all about the lenses. In fact, the priority for great pictures might be: Composition, Light, Lenses, Camera. in the Nikon vs. Canon DSLR world, pick one and stay with it. The reason is lenses, as with those two great camera makers, the lenses never really go out of date. I recently sold a 25 year old manual focus Nikon 600mm f 4 for $2,000.
If I had to choose, I would shoot with an old Nikon D-70 camera (ten year old technology) and keep my 300mm f2.8, and be happy. if I were forced to choose between a new Point and Shoot 16 Mega Pixel camera and an old DSLR or even SLR 35mm camera and "great" interchangeable lenses, I would take the camera with the interchangeable lenses. For me, the options are greater, the ability to adjust is greater.
Of course, I have point and shoot cameras, the Lumix waterproof models, and they can take great, publishable pictures (and underwater, and underwater HD video). but in my opinion, everything has to be just right for that to happen.
But at the end of the day, if composition and light is right, even the I phone can take a truly great photograph. My opinion, of course. See our longbow hunting pictures at
www.jaycampbellphotography.com, private gallery longbows, password "Buffalo", capital B.
Best, Jay and Karen Campbell