I say yes: I've been dreaming of an ist D series II for quiet some time now, but the thing you describe comes in close...
The only thing I don't agree of is the sensor: the 10 MPix Sony is not up to the tasks. Better would be to kidnap the wife of Fujifilms CEO and ask the 6 MPix Super CCD as ransom...
Your idea is not new RH. Sometime ago I started a thread like that myself:
http://www.pentaxforums.com/forums/p...00-thread.html