Originally posted by jatrax I think 120mm is too long for most landscapes.
I agree. In fact, even 55mm is often too long for landscapes. Whether you opt for the 120-400 or the 55-300, you will probably find yourself carrying one or more extra lenses (e.g. 12-24, 16-45, 17-70, 18-55, 18-135, or one or two of the compact wide-normal primes, possibly including a macro lens).
Getting much beyond 300mm in Pentax, on a budget, involves a lot of compromises. See this thread:
https://www.pentaxforums.com/forums/10-pentax-slr-lens-discussion/235233-what...in-budget.html
You either pay top dollar for a good 300mm prime + teleconverter (even a Pentax-F or FA 300 costs close to $1000), hunt for a good 400mm prime (uncommon, expensive, bulky and heavy), or get one of the big heavy bulky zooms like the Bigma (Sigma 50-500, which weighs close to 2kg). And don't forget the cost, weight and bulk of a decent tripod.
I considered the Sigma 120-400 when looking for a birding lens but decided against it because it is reportedly very soft above 300mm. Also if you are going to carry all that weight (1.7kg), you might as well get the Bigma, the 150-500 or the 170-500 for the extra length. But all of these are specialist lenses, not for carrying around everyday (in my opinion anyway). Don't forget that many people find even 800g lenses like the DA*60-250 too heavy for everyday use.
As between the 120-400 and the 55-300, if I were you I would go for the latter and crop the long end shots as required. The portability and versatility of the 55-300 will mean you use it much more often.
If you find 300mm too limiting, down the track, you might look at the zoom in the mid-100s to high-300s which is shown on the Pentax lens roadmap.
I'll throw up another option. If you want a one-lens option for travel/walks in the countryside, 18-250 (Sigma or Tamron/Pentax) or 18-270 (Tamron/Pentax) is a good compromise. They are about the same size and weight as the 55-300. Although you will miss the extra length of the 55-300 for birding/wildlife, and the long end may be a little bit softer, the extra width is a great bonus. You can still get quite good results - especially if you (a) shoot RAW, (b) use either in-camera distortion correction (available with the Pentax-branded lenses) or PP with DxO Optics Pro (a marvellous program), and (c) use some judicious cropping for long shots. I went for 6 years with a Tamron 18-250 as my only lens, and used it for the full range of nature shots (landscapes, flowers, insects, plants, birds, animals, etc). Over time, I found that a high proportion of my shots were either at the widest end or the longest, so I have added an ultra-wide (12-24) and a birding lens (170-500). Even so, on a walk I still often take just the 18-250 for its convenience, versatility and light weight, and still get very pleasing results.