Canon Discontinues products

The irony being most hobbiests don't need a brand new 5D MKIII the latest 24-70 f2.8 and the 70-200 f2.8. If we ignored pixel peeping on photoshop and looked at the way most hobbyists actually output there work (relatively small prints, computer monitors and the web) then I seriously doubt you will see any difference bettween shots taken with a 5Dc and a Sigma 24-70 that can't be mostly attributed to different processing styles. I know I'll get flamed for that comment but if the people just taking pictures for fun are really honest they know they don't need the latest bleeding edge gear hell I still love the results from my 20 year old 70-210mm f4 I'd love a 70-200 L but I clearly don't need one!

Ver much agreed, and I would go as far as to say that most people would be perfectly suited to a crop camera due to the same reasons, the viewing medium. However many people really enjoy th hobby and many people can afford to spend money on pro lenses.
 
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However many people really enjoy th hobby and many people can afford to spend money on pro lenses.

Exactly if you have the money by all means spend it but those that don't have the money need to ditch the envy as it get's you nowhere and they need to realise that a 5D Mkiii or a D800 won't make them a better photographer or even make their photos any better.
 
What's a bit ironic is that, whilst many were speculating whether the used value of the 24-70 would drop in light of the new model, I think the opposite will happen.

Stock of new 24-70 mk1s has all but dried up and you're now looking at close to £1100 for one. With the replacement still over £2k, I can see the used prices of mk1s not just holding but actually rising.

Canon do seem to be milking prices generally though, even after changes in exchange rate are taken into account. The 70-200 f/4L IS is around £900 new at the moment. I paid £500 for mine four years ago!
 
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