Too many comments here are implying that the only thing that makes a given camera "better" is the number of megapixels. By this measure, the top professional models from C&K of recent years are not as good as more recent entry/mid-level offerings. Why do these pro models manage to produce such high IQ, in more situations, in spite of a lower MP count? Is it not possible for Pentax to produce a 24MP camera with top grade electronics, etc, that would match the IQ of the C&K pro models?
Anyway, if nothing else, I have faith in Pentax being able to produce a more compact camera. It's quite easy, actually. You can reduce the size of anything by simply making it smaller