I've read a couple of statements that left me very cold.
1) $990 difference for AF is well worth it. Well, apart from the simple fact that paying $10 for the Tak is like paying the Zeiss less than $500... i won't give to the AF such a big value!
In practice i'm mostly using good AF zooms for cropped sensor these days, as i'm away from home most of the time, and 99% of the shots i take are travel photography.
So i do value AF lenses, but i'm also aware that if i had to shoot water birds i'd find easier to focus with a follow-focus Novoflex system, than with the (rather good) AF of my K-5 II.
The AF system can't tell the duck from the water reed to its side!
If i had to choose the AF point every time, i'd rather operate the "machine gun" trigger of the Novoflex. Quicker!
Maybe it is because i learned to photograph with fully manual cameras, sometimes (not always!) i prefer MF over AF.
I tried to photograph an afternoon concert of a dutch rock singer with the K-01, using recent AF lenses.
The light was more than enough, but it was a real nightmare! Always playing catch up...
Portraits with a super fast lens wide open aren't for AF either.
DOF is paper thin, if the subject isn't jumping around, MF allows to focus to the right spot (closest pupil).
The cheap cinese ground glass i fitted to my K10D, with microprisms and split image, allows for easy use of super fast primes
2) More on topic. I've read that the Takumar f/1.8 55mm should be better than the similar K version. As far as i know, there have been many incremental advancements in the coating technology used by Pentax. Most of the times the improvements weren't even declared.
IMHO, a newer lens is always better than an older one, UNLESS the optical project was simplified, or after the switch from hazardous optical glasses to lead-free, safer glasses.
AFAIK the f/1.8 55mm series K, and the f/1.4 50mm series M/A are very good optics, and i expect that they will still show their worth on the new K-1.
I agree that the f/3.5 28mm series M is a very good wide, a pity i sold it when i bought the Pentax/Zeiss f/2 28mm.
I see that Takumars are very fashionable these days. Nothing against it, but saying that older is better seems quite a stretch
cheers
P