I think Fred works for Nikon and has helped them disable the "time-rewind" feature on the D700. I remember reading something about it.
"The D700 has a state-of-the-art Time-Rewind feature build right into the body. With this handy new feature, not only will you never miss another shot, you can go back in time to recompose"
I think Nikon already has it on some of the P&S cameras. It's called the "no blink" feature. It must measure when your subject has blinked and backup in time to when the eyes are wide open...
