Shooting in extreme cold outdoor conditions is a challenge.
a) Camera: Although both the K3ii and the K70 are rated down to 14F or -10C, I believe the K3ii by not having a built-in flash or swivel screen and being the flagship is more resistant to external induced (temperature, moisture, etc) problems. I understand why Live View is more desired in cold shooting than fogging up the optical finder. However, keep in mind, that Live View will be draining your battery faster.
b) Primes: Unlike film cameras that were more mechanical and less electronic, the digital camera is more vulnerable when switching lenses and the overall elements. And youʻre very limited to only a handful of Pentax primes that are WR, AW, or DA*.
c) Zooms: Although I agree that most 18-55mm kit zooms are never the best lenses, they are an incredible value and manufacturers often lose money on these lenses. They donʻt want to sell you on their new camera which creates poor IQ because of the kit lens. I sincerely believe they are under-rated and Iʻve seen some Pentax 18-50 and 18-55mm zooms that were exceptional. Of course, it you can afford the price, size, and weight of something like the 16-85mm or 18-135mm, it will give you a bigger range and higher IQ. Just saying, donʻt think of the DSLRʻs kit 18-55mm like the FSLRʻs 35-70mm or 28-80mm: Theyʻve improved.
d) Manual focus lenses: Not sure how many, if any MF lenses are WR or AW, but without a motor, itʻs one less tech issue in the cold or moisture problem and one less thing not to drain your battery. Of course, you could always just manually focus your AF lenses too. The flip side, manual focus with the quick shift feature is going to drain as much power as AF. The K3ii has 27 phase detect and 25 cross type for AF vs. the K-70 11 phase detect and 9 cross type.
e) Power: I know you want to keep size down, but here a battery grip is going to double your shooting time. Also the Pentax grips are WR. They can also accept (6) AA cells.
f) Cases: Have you considered either a holster or a backpack that can be worn as a chest pack? That can help with dealing with a larger lens or camera than something smaller under the jacket.
Pacsafe Camsafe V11 Anti-Theft Camera Front Pack 15180505 B&H