.........At the hardware level I think K20D and K200D are almost identical except for the sensor of course. For sure they have different bodies, OVF, and memory buffer sizes but they share the same processor, I would guess even the most mainboard, exposure system, AF system, shutter and mirror box. So I say the most of the difference are in software rather than hardware which is good.
This is true. It probably explains the size of the stuff
Anyway, the image processing circuitry is cheap and easily updated and replaced in the production process. It is rest of the bits and building blocks that really matters (apart from the sensor).
The new low-end model has at least 3 unique features for Pentax digital era.
Not big, not revolutionary, but NICE.
Your stakes, Sirs!!!
And I hope also, cheap (cheaper that D40/A200/E410/420, to beat the all ). We'll see.
PS. You said before it will be more suited for the pancake lens so I can just suppose that it won't have a massive grip but it might resemble the MZs. Not being revolutionary it will have the AF motor, same VF as K200D (maybe same AF - 11 points, Safox...) but no more top LCD and no AA power source but LiIon batteries.
In 1-2 weeks all these guesses will be history