Hi,
a € 300 rebate on a Canon 5 D (click here) makes me think: why do they want to sell their stock so soon after the introduction and lack of competition?

The market is pretty saturated.

It would seem make no sense, so probably one of your assumption is wrong: the 5D seems to be getting a lot more competition than you think, in particular from the Nikon D200. When you look past the dogma that sensor size is the paramount measure of DSLR quality, the D200 is selling far better than expected, while it seems that the 5D is selling slower than Canon originally expected, and I suspect that these two facts are related. In fact Nikon D200 production capacity has been increased several times, so at at about the same pace that Canon 5D prices have been reduced, first by retailers and now by Canon with rebates.

Photokina looms
Cheers
Brian
www.pharoseditions.com.au

Most Canon products go through a cycle of high intro price, rebate, price drop, rebate and death. So, after the rebate period ends, I bet the 5D will sport a $200 or $300 lower street price.

Whatever the reason it's worked. All the big retailers(including Calumet, Jessops, LCE etc) in the UK are sold out and have back orders on Canon, you can still find a 5D but you have to search.

I think that Canon with the introduction of the 5D filled a gap in the market, which was a "reasonably priced" full frame camera. My view is that it was made with a view to compete with the now-discontinued Kodak full frame.. which was retailing for $2500 before all the stock ran out. Canon always prices a premium into new releases, and generally lowers the price by around 10% once a suitable volume of sales has been reached, or a certain time period has elapsed. So the first $300 dicount can be explained that way. The second "rebate" though indicates to me that it is having a tougher time selling, probably due to the much cheaper D200 being available. The RAW survey:
http://www.openraw.org/2006rawsurvey/chapter1
notes that more than a third of their respondants were Nikon shooters. As most of these are pros or serious hobbyists, it's exactly the target market for both the D200 and 5D are aimed at.
In my book that means that Canon is having to fight with a "supposedly" inferior camera, although even as a Canon shooter I can vouch for the fact that the D200 is a quality machine, and "even" with a reduced frame sensor is capable of some pretty starling results. Add to that the raft of features included (fast frame rate, intervalometer, pop up flash, good battery life, weather sealed) in some ways turns it into a better camera than the 5D. I own a 5D and play with a friend's D200, so I am able to compare both. I am honest enough with myself to understand that the D200 is SERIOUS competition. And that in my books is good.. forcing Canon to price the 5D more realistically, seeing as they have skimped on quality or pro features and must now make amends by lowering price.

Add to all this the fact that Photokina, which is traditionally more important than the annual PMA, is now looming.. and you have the recipe for some interesting new cameras, at least from Canon. For us 5D owners, I just hope that whatever is coming doesn't make me bite my nails at having chosen the 5D!