Several years ago, I picked up a Panasonic LX3 - f2 wide angle lens 3x zoom. It does very well, has pretty good manual controls and is small along with being compact. Sensor is good, until you pass ISO 400, and I believe its the same sensor size as the Q. I have always thought that with interchangeable lenses, it would be even better.
So, I do think the Q will work, however not at the current price of $800. A month or so ago, there was a post here that - I think it was QVC had them for $235 (a pricing error). Now that is a wonderful price. I saw it, went to the site, and almost pulled the trigger. I had just bought a K5 and my wife would have questioned my sanity - well she does any way at every opportunity.
I have kicked myself several times since then. For traveling, the size would have been perfect. I was just traveling last week and it would have just been a drop in.
On the topic of the K-01. I do think that Pentax got this pretty right - for once. The $750 price when compared to the K5 is very well positioned. However, when compared to the Q - it does not make sense - other than its small and surely is must be worth more thought process.
Anyway, I'll wait. I doubt if I will ever see a sub $300 price again, but if so I will not hesitate...
One thought - the Q with a one way cell phone (and a custom LI battery), coupled with Facebook. The kids would eat them up. Take a image and have it go to your facebook account automagically. Push the higher quality coupled with the interchangeable lenses, easy to use interface.