I looked up the D7000 specs as they have settled now. Wow...
On the spec sheet, both cameras look indistinguishable!
In common:
Mag-Alloy body, WR, 100% Prism, 2 wheel operation, 150k shutter, 16MP, ISO100-25k, 6 or 7fps, etc.
Pro K-5:
SR, In-body HDR (if Nikon did not catch up), Size?, Grip?
Pro D7000:
$200 less, Tethering?, 39AF points, Video-AF (if Pentax did not catch up), Dual SD (if Pentax did not catch up)
That's a close race and both cameras will have the same street price for sure. I am wondering if Pentax won't announce the K-5 at the $1200 price point too. The K-5 must launch at less than the K-7, not more anyway if you ask me...
Originally, the K-5 was targeted against the D300s. But Nikon acts like their is no niche left for a D300s between a D7000 and D700. And if there is no niche for Nikon, then there is none for Pentax either