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I think that would depend on your patience and budget. The 400 will probably be a lot more money. I picked up a used d7000 body in excellent condition from B&H for $950. I'd expect the D400 to retail at twice that.
If time is not an issue you could wait. Info on the D400 is sketchy and thin. Nikon might surprise with a quick announcement after rolling out the 800, but it would be a shocker. But it and housings could be wayyyyy out there. The D7000 is a fantastic camera, with lots of housing to choose from. Of course it depends on your ultimate goal but for anybody short of the most demanding, full on professionals it is plenty of camera.
I just upgraded from a D80 to a D7000. For me it was a huge upgrade. Doing indoor sports photography it's much better than the D80. Next step is saving for a case. Really makes me sad to see my Nikonos V and all that glass/flashes/etc sitting their lonely and not really worth much.
Wait for what? If its the D400 & you don't like the specs and/or cost, then what - more waiting? If the D7000 meets your needs for the next couple of years than go for it. Make sure you get spare parts for housing, etc. Some people wait.....& wait........& wait, & end up still using their old system. There will always be something new to wait for. If you plan on keeping a system for a few years I'd suggest purchasing a 2nd body - backup + with 1 camera in housing you always have another available for topside shots.
Do you want that new camera right now?
The D7000 is a very nice camera but it has some (to me) annoying features. The annoying features are the shooting styles. You get those in the D90 too. In the D300 and presumably in the D400, you will not have those. If Nikon follows their past procedure, the D400 will differ from the D7000 in having a more robust build. It will be a bit larger and heavier. It will also have more focus points and maybe an ability to shoot photos in rapid succession faster. If I were you, I would compare the specs on the D300s and the D90. Those differences should give you are pretty good idea of what to expect in the D7000.
That being said, Nikon is going to take their own sweet time in releasing a D400. I would think that it would come out this year. But that is a guess on my part. If the D300s kind of features are important to you and you don't mind waiting an indefinite period of time, then by all means wait for the D400. However, the D7000 is regarded as a very good camera and you would probably be quite happy with it.
Of course, you could just go whole hog and get the D800.
Probably the D7000 will have a manufacturer price drop sometime very soon.
Well, actually, since reports of the Nikon factory flooding there was actually a price increase from 1199.00 to 1299.00 at most online retailers. B&H doesn't even have it in stock and has had very low stock of this camera and other Nikon lenses for a while now. My point being, I wouldn't even wait for a manufacture's price drop. The factories have supposedly resumed production, hence the announcement of the D800 , but I don't see any reason why there would be a price drop on the D7000 esp. since it's already a couple hundred cheaper than Canon's 7D.