Anyway OlyFlyer (nice name), fanboy is correct. Its used for someone who loves his brand so much that they will fight with anyone who says anything against it.
I appreciate you trying to give the TS another option but don't you think just telling him to consider the Olympus is enough instead of telling negative stuff about the C & N and praising the qualities of the Oly. This is the reason why Rashkae said you were a fanboy and come to think of it I would be tempted too.
All the lenses of C & N can still be used but to a varying degree of control. You lose a bit here and there and seriously if you are a good photographer, I dont think you would mind that bit of a loss coz mebbe you aren't using it anyway. If I am wrong here, it is my lack of knowledge in this regard and would love to be corrected.
As for the TS, I was in the same dilemna some months ago. I looked at my bank balance (very important), picked up the cameras I was considering, looked at the possibility of me upgrading because of the BBB virus and bought a second hand D70. Once I learn how to be a photographer instead of a camera owner, I shall go ahead and get my dream camera.
Both Nikon and Canon make good cameras. As it has been said time and again, go hold the cameras in your hands, take a few pictures, look at them, then buy the one you like and can afford. Anyone you choose, trust me, you won't have made a mistake.
PS: I am harping on about N & C and not Oly because the TS asked about these two. So dont get me wrong OlyFlyer.