About 2 weeks ago I borrowed a H3DII-31 and shot it side by side with a 1Ds Mark III. The 1Ds Mark III of good lenses such as the new Canon 100L Macro, 135L, 85L II, Zeiss 28/2 ZE and Canon 50mm F2.5 Macro. Pixel for pixel the 1Ds3 and H3DII-31 were quite similar. For outdoor shooting the H3DII-31 had nice color, tone and DR, but lost overall due to the weight (it's a heavy SOB) and the max shutter speed of 1/800. There were number of times where the H had to be stopped down to F11 to get the shutter speeds down. In the studio for catalog shots, somewhat to the H3DII-31's owner's dismay, we were getting better images from the 1Ds3. In post production the 1Ds3 files via C1 were starting out closer to a finished product. The H3DII-31 had the resolution edge via its 31 MP vs the 1Ds3's 21 MP. Though, I was surprised to still see false color and moire artifacts; I thought the micro lenses would make that a non-issue. Having shot with many different 22 MP backs, I'm hyper-sensitive about moire and false color artifacts. I'll assume that those can be managed in post, but all the same, I was surprised to see it at the raw level.
Long story short, the H3DII-31 owner is planning to sell his H3DII-31 and buy a 1Ds Mark III. We agreed the H3DII-31 had lovely quality, but it lacked flexibility and ease of a dSLR. For his catalog work he could see advantages in using the H3DII-31, though, he was skeptical about the differences being relevant after the CMYK separation/printing. The deciding factor (IMO) for him was cost of ownership. He could (and is) selling the H3DII-31 with the same dollars can buy a used 1Ds3, 85LII, 100L, 24-105L, 50mm Macro and still have money left over.
My opinion on the H3DII-31 was great looking files, but I didn't now like the H3DII-31 body - specifically the weight and top shutter speed. If I was buying that sensor, a 645AFDx body and Phase One P30+ would be my choice. I think Hasselblad has a very good engine in the H3DII-31. If they could squeeze that package down to a S2 sized camera with a focal plane shutter, I'd be quite interested. They'd also need light lenses too. The HC lenses were significantly heavier than the L lenses.
As a side note, we also compared the ZD and H3DII-31. IMO the ZD can go head to head with the H3DII-31 at base ISO. The ZD's 22 MP were competitive with the H3DII-31 MP - which were as crisp (at a pixel) due to the micro lenses. The H3DII-31 has very good ISO - even 800. Whereas the ZD doesn't.
It was an interesting week. I like Kodak's 31 MP sensor - very flexible. It just needs the "right" body. That sensor in a ZD "II" would be my S2.
One comment - I've read time and time again the H bodies feel cheap and plastic'y. The outside is metal - the thing felt very strong and was creak free. there are a couple plastic trim pieces, but everything is metal including the lens barrel and hood. Downside was the weight. I could not imagine carrying the H for personal use. Very nice camera, just not the right one my needs.