I know that the K7-K5II series is capable of producing great video, it's up to how much work the user puts into it. You can go grab the best from canon or a $10,000 Red epic rig and they all take the same amount of work to produce a good presentable video. With the lack of clean straight 1080p HDMI output, it does limit abilities of making your production easier using external recorders, but an external monitor works perfectly on the K7-K5II.
The file format is a bit rubbish with that MJPEG but it works and produces a clean image if you run it through premiere or even Videopad and push it back out in a high converted bitrate.
While filming, or just before shooting, you can set your F stop and use the Exposure lock to set your exposure, no you will not be able to set exact numbers for ISO and shutter speed, but it works. Aim at your exposure point and hit the AE lock, shoot. You can unlock and re-lock AE while filming.
I haven't gotten deep into shooting anything with high production value. I'll post a few sample shots-
K5II Pentax DA 18-250mm ~F9
K5II Pentax DA 18-250mm ~F9
K5II Pentax FA 50mm F4 ~F9
K5II Pentax DA 18-250mm ~F9
K5II Pentax FA 50mm F1.4-F2(Likely)
K5II Pentax FA 50mm F1.4-F2(Likely) Playing with shallow DOF