However, I would not be surprised if Pentax was hanging at 12MP or 14MP. We all know that a greater number of photosites at a given sensor size brings in more noise. So if they don't want to take any risk with a NR which could be a bit too agressive (and by "agressive" I mean, reducing image details a bit too much), and on SLR's the difference is greatly brought by the lenses. That's where you win a battle, IMO. Lenses and extras like the in-body SR.
Remember Canon stepped back to 10MPix on its G11, while my Optio P80 offers 12. Considering its price, there must be a good reason
OK, we're not into the same class, with the G11 costing... more than twice my Optio. The G11 must provide less noise, too. That's a matter of physics there, not magic.