Originally posted by Aristophanes Dumping K-mount is a HUGE risk. DSLR's have a proven track record and have been Pentax's bread and butter. Ricoh bought the K-mount.
To the best of my knowledge, the K-mount has no value; it is a simple design that can easily be copied, and is mostly if not entirely out of patent protection. (The PZ-1p, with the K-AF2 mount, was released 22 years ago.) But your posts are thoughtful and I assume you understand that what Ricoh bought was the Pentax brand--and the loyalty of Pentaxians.
Ricoh also purchased Pentax's other mounts (Q, 645, 67), as well as its lens design expertise and industry connections. The more I learn about the high-end photography market (i.e., kits costing more than $500), the more I think that networking and know-how are what Ricoh purchased.
It is plausible that Pentax had contracts with suppliers (such as for sensors and glass) that made purchasing it worthwhile. I would be surprised if Pentax didn't have sweetheart deals with Hoya. After all, Ricoh might be able to use those contracts for its business imaging products.
Pentax was owned by Hoya, one of the major glass manufacturers. Undoubtedly, Pentax lens designers had an inside glimpse into the Hoya glass projects, and also developed relationships with the people who make the optical glass. If Ricoh was having a hard time interfacing with Hoya, Schott, Corning, or whoever, acquiring those relationships vis-a-vis Pentax--again, not just for photographing imaging uses--would make that acquisition worthwhile.
As an aside, I note that Canon is a major player in both photographic and corporate imaging. I suspect that there is a large crossover in terms of what specialized personnel bring to the table with these markets, something Ricoh lacked before its acquisition of Pentax.
Undoubtedly, the loyalty of Pentaxians is valuable; literally any DSLR that Ricoh might release will have buyers simply due to the Pentax brand. But the numbers are simply unknown. How many Pentaxians does it take to justify a new camera R&D cycle? Probably not enough to justify purchasing the company, or the company would have cost more.
The fact is that most Pentaxians, myself included, were attracted to the brand for its value, which largely hinged on the used market--which is to say, the K-mount. Hoya targeted value-oriented consumers. Ricoh is not. Let me rephrase that: Ricoh, by raising prices, is pushing away the very consumers who represent the bulk of K-mount goodwill. Ricoh is not pursuing what the K-mount brings to the table, although it may well be renewing the K-mount into something better than it ever has been.
What does this all have to do with the K-3? Well: whatever it happens to be, and speculating is less worthwhile now than ever before, will tell us a lot about how Ricoh sees the K-mount. If Ricoh releases a mildly upgraded camera, they will be telling us that the K-mount was secondary to the other sources of value that were offered by Pentax. if Ricoh releases something new and interesting, then they'll be telling us that the K-mount is worth investing in.
At the very least, given Ricoh's track record, I expect the next top-of-the-line K-mount camera to offer an extremely configurable system that experts delight in and which daunts novices. This will be good for those of us who like legacy lenses and geek out with our kit.