Pickett Wilson
Veteran
There's an M8 and grip for sale on pnet right now for $1995.
What's most intriguing about this is how well R-d1 prices have held up. I regretfully sold mine (tax bill) nearly two years ago for $1500; people are still asking similar prices today. On eBay, they've gone unsold for $1350, but sold at $1200; a 20% depreciation, in two years, for a digital camera is pretty good going.
So the real question is, will the M8 hold its value like the R-D1?
I make exhibition and competition prints with the M8 that are 20-30 inches, and the quality is stunning at low ISOs. The prints are equal to any current high-end dSLR (and also the M9).
There are a lot of M8 users, like me, who looked long and hard at the M9, and then decided that the advantages were minimal. In other words, we asked ourselves "Would an M9 increase the quality of our photographs?"
Erwin Puts backs this up by stating that the M8's dynamic range and noise is better than the M9: http://www.imx.nl/photo/leica/camera/page159/page159.html. Of course, the M9 files, having 18 MP compared with the M8's 10 MP, will need less enlarging when printing, giving some advantage above ISO 1250 that may be visible when printing larger than 20 inches.
At low ISOs, the advantages are minimal, and the M8 prints may actually show better shadow and highlight detail than the M9 (as per Puts's tests)!
The only major advantage of the M9 is for photographers who prefer the full-frame format as opposed to the M8's 1.3 crop format - and there isn't that big a difference between the two. However, there are many photographers, like myself, who are perfectly happy with crop factor cameras.
In short, there are a significant number of M8/M8.2 owners who have no intention of selling their cameras (perhaps when the M10 comes out in 4-5 years...?).
Yes, an M9 would be nice - more pixels means more scope for cropping, and having an internal IR filter is a definite improvement - but hardly worth paying $4000-5000 for (price after selling my M8). And I suspect a lot of M8 owners have come to this conclusion.
M8 prices may show a dip for the next few months while they're being offloaded by those buying M9s - but I predict that the price will stabilise at $2000-3000.