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There's simply no substitute for what this technology will do.
No kidding! You have hit the nail solidly on its head.
My Nikon D2Hs (now a generation old) was darned good technology in its time, and still is. The normal ISO range for the camera is 200 to 1600. A Noise reduction (NR) option is available for ISO 800 and above. Frankly, I haven’t used that enough to comment on its effectiveness.
With this camera I have been reasonably satisfied with image quality, including noise, for my purposes (newspaper repro and occasional prints up to 20” x 24”) on well exposed images using ISO 800-1600. This assumes fairly minimal cropping. There is a particularly noticeable increase in noise stepping up from ISO 1250 to 1600.
The D2Hs also has ISO options labeled “HI-1” and “HI-2.” These boost the ISO to 3200 and 6400, respectively.
I have used these settings seldom, always neglecting to use the NR option. This has produced “usable” images, but the results have been pretty awful, especially if any appreciable image tweaking was required to open up (bring out detail in) shadows. “Hideous” would not be a bad or unfair word to apply to those results. They are the kind of photos that I wish the editors would either drop my byline from altogether or attribute to someone else. (Not really the latter – it’s a newsroom joke for me and my associates.)
This is the experience leading me to believe that when it comes to high ISO work, the new breed of camera exemplified by Nikon’s D3 is the way to go. It is a specialized tool, but like many or most specialized tools, it is the right one for the job and everything else is a jerry-rigged (or is that, jury-rigged?) solution, and very much second best.
So I drool over the Nikon D3. And I see one (or equivalent) in my future kit, although by no means exclusively for the high ISO capability which (to me) is the icing on the cake.
Now ...
One of Nikon’s VR lenses (70-200mm f/2.8 zoom) resides in my kit and gets extensive use. I also have used other Nikon lenses with VR. The Vibration Reduction technology does work, and it works very well at reducing the image degrading effects of camera movement. I use mine almost exclusively in the “Normal” rather than “Active” mode since I usually am in a static position shooting moving subjects rather than the other way around.
Sometimes I also use a very good state of art tripod system that was un-Godly expensive to buy, but works far better than any other tripod I’ve ever used or owned. And I use a monopod in some circumstances. Both address the camera movement issue.
But, again, going to high ISO is the only real solution when the light gets low and the objective is to be able to use a high enough shutter speed to compensate for subject movement while retaining a small enough lens opening to preserve adequate depth of field. And that takes us right back around to the beginning here …
G.