Just checked the latest DPReview D500 first impression review. From the High ISO samples for the 4 cameras mentioned in the title. How come I don't see the improvement for RAW noise from D610 to D5? I am D610 user and might be biased. Need a second pair of eyes to correct me, maybe. Looks to me D610 is better than D4S and, at lease the same as D5 if not better.
Looking at RAW results like this, one will not find huge differences between current camera models, as they are all approaching the limit of physics and light itself.
The major innovation in the D5 that sets it apart, is the advanced in-camera NR that produces much better detail and noise reduction than prior models - but is only utilized for its JPEG output. As I'm principally a JPEG shooter (due to sheer volume of output), the D5 suits me perfectly.
D500 is not even in the league with FX sensors.
DX cameras need to be compared at ISO settings that are one stop lower. In actual use, a DX camera with a specific lens model, is nearly equivalent to an FX camera with the same lens plus a TC-14.
For example, I typically shoot figure skating with the D5 and 70-200 VR II plus TC-14E wide open at f/4. If I used a D500, I'd omit the TC, use f/2.8 and set ISO one stop lower to obtain the same shutter speed: Makes a D500 sound attractive.
The FX advantage at higher ISO settings is only real when equivalent lenses are not available. For example, an FX camera with a 200 f/2 would be equivalent to a DX body with a 135 f/1.4, which is not obtainable. Also, I can use the D5 with the 80-400 VR at f/5.6, but there isn't an equivalent lens (55-270 or 60-300 f/4) for a DX camera: Doesn't make the D500 sound so attractive.