I wouldn't say the sensor is up to date, it now seems where it should have been with the Mk3. It is still over 1 stop behind the competition in terms of DR. That is not too bad and for most people the sensor is a good step forwards, but what happens when next generation Sony and Nikon sensors come out with 15.5 stops DR at 54MP, the canon sensor will look very dated again because they haven't really caught up yet, just closed the gap a little.
Exactly