As a keen film photographer here are my thoughts after recently buying a Leica M9..
I have just moved from my Nikon D800 to a Leica M9 (for my digital photography) and must say i’m blown away with the Leica experience. The Leica M9 Kodak CCD sensor renders photos more like film so it really threatens my future use of shooting film.
One thing the Leica M9 cannot do is provide such shallow depths of field (DOF) so I hope my medium format film cameras at least still have a future.
Here is an example with my Mamiya RZ67 & Model Emily:
Kodak Portra film captures such nice skin tones for portraits; model photography and wedding photography so maybe yes. The Nikon FM has the upper hand as I can use any of my Nikon mount lenses such as a Nikkor 200mm f2 that gives sharp shallow DOF images to almost match medium format film. The Bessa can use my Leica M mount glass but the result would not be hughly different from using the Leica M9 (i think) (IMO).. not yet done a side by side comparison.. yet.. 🙂
Conclusion.. I don’t think DSLRs can threaten film photography (or those that like the film look) but Leica.. it definitely make you stop and think!