Pro:
1. The only Nikon 'compact' full frame DSLR on the market.
2. Decent image quality and ISO performance up to 3200.
3. Same meter and autofocus mechanism as Nikon Pro D3/D3s/D3x.
4. Excellent weather resisitance as Nikon Pro D3/D3s/D3x.
5. Compatible with new and old Nikon lens, some made decades ago.
Con:
1. 3 years old tech as Nikon D3. Rumor is D800 will be released later this year, because many places have run out of stock.
2. 'Only' 12M pixels.
3. No movie. Even Nikon's entry level D3100 has 1080p video mode.
4. I don't know you, but I still feel it is too big and heavy to carry around, especially with a Nikon Pro lens like 24-70mm f/2.8 or 70-200mm f/2.8.
D700 is a decent camera. If you want to learn photography, it will be an excellent tool. If you can get a lot of discount, take it for sure.
One thing to mind is the lens. A good full frame DSLR like D700/D3s/D3x will expose the quality of the lens. You will see clearly the desgin or manufacture defect, which won't show in APC DSLR. In other words, prepare to spend more $$$ on good lens. Nikon Pro lens are heavy like tanks.
