The thing with settings is that if you want best performance, you need to change them according to the photo. Spot metering can be great in one photo, but another photo might require matrix metering. 2 sec timer is great if you have a tripod, but in another situation you might need burst mode to quickly take as many shots as possible.
The best way to learn the settings is to simply envision a photo, then try to take it. And then figure out what settings get you closer to that vision.
Edit: But yes, enable aperture ring is one of those things that you should turn on and leave it as such. I also choose colour space to be sRGB. Raw format should be dng - it is more versatile than pef. Use P mode at first, then learn to use Av. Metering center-weighted, and focus mode AF.S. White balance set to AWB at first, but switch it to Daylight in daylight and to Tungsten in artificial light (and adjust it in raw editor if you shoot raw). CTE for sunsets. Also, Catch-in-focus is a great feature if you use old manual lenses.
Also, here is a useful starting point:
https://www.pentaxforums.com/reviews/pentax-k5/walkthrough.html#recommended
Last edited by Na Horuk; 09-25-2013 at 11:37 AM.