I think so. The question is, when (if at all) a 5D will show up.
As far as you can see it, the big names start now rearranging their product line:
1. an entry level DSLR for around 500-700 USD
2. a more advanced model (featurewise) for 700-1000 USD
3. the semipro model for around 1200-1700 USD
and some pro models for specific purposes (press & fine art photographers) for a lot more money.
Nikon has the range from D50, D70s, D200 (this fall), D2Hs and D2X
Canon has the 300D/350D, 20D, 1DMarkII and 1Ds Mark II. I expect in the entry level mabe one more model below 350D and a replacement this fall of the 20D.
But in the long run this strategy will change. If you look at the analogue market, there is only one pro model, one semi pro model and different entry level/ advanced level models. Since chip producing is expensive, I expect within the next 2-3 years less models at each brand name.
But Minolta (Konica Minolta) has still to come up with an entry level model to be able to gain more market share and a pro model for the image. The 7D is a great camera, so at a price below 1000 USD, this would be a homerun.
Think a 5D whould go into the semi-pro, enty level model.
With a price below 1000 Euro including lens. (yes, I don't use dollars).
Expect a camera where the features are all hidden away into menu structures like most of the competitors do. So it won't be a professional camara anymore like the 7D.