"And of course if the optics suck, even the best sensor just captures a distorted, blurred image."
And to add to this, if the optics are superb, a sensor capable of capturing more than they can deliver is not achieving anything more than a sensor which captures what they are capable of delivering. Which is, I reckon, the situation we are now facing. Lenses are now the key to image quality, together with increasingly meticulous capture technique and many have to be updated to keep pace with the drive for more MPixels.
I have 5D files from library contributors - and excellent they are too, but I see no really significant advantage over the 1DS given the cost of swapping over bodies/housings. I'd rather wait and see where things go - given that client's don't for the most part care about the camera used - provided the image fulfills their requirements both content and qualitywise.