Nikon D700 - Manual (Page 355)

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f11: No Memory Card?
At the default setting of Enable release, the shutter can be
released when no memory card is inserted, although no pictures
will be recorded (they will however be displayed in the monitor in
demo mode). If Release locked is selected, the shutter-release
button is only enabled when a memory card is inserted in the
camera. Note that when photographs are being captured to a
computer using Camera Control Pro 2 (available separately),
photographs are not recorded to the camera memory card and the
shutter will be enabled regardless of the setting chosen for this
option.