Thanks for all the responses! I am looking over my notes as read this thread and I am remembering more from my conversation with Mr. Flaten. I'll sprinkle that in to this reply.
@barondla : I arrived at the store at 12:30pm, sort of in the middle of the lunch hour. That time is always kind of dead. When I left at 1pm people were starting to come in and they were hovering around the display case. I knew I had taken quite a bit of time already and I would have felt bad to keep going. Everyone should have a fair turn. By the time I left the store with my film there was an older lady asking the rep if the MX-1 saves in raw.
Additional note : Mr. Flaten shoots in PEF and uses the Adobe color space. The files are smaller and he finds the rendering of purples to be more gentle.
@Corinne : Mr. Flaten did not say if a new model would replace the old or if two models would exist side by side. He was more interested in promoting the Q7.
Additional note : Whatever Ricoh does with the Q line and the lenses, it will always be around the 1/1.7 sensor. Selling the Q line with a 1/2.3 sensor was tough. No retailer wanted to promote it because the 1/2.3 sensor has a reputation of being too dinky. The 1/1.7 sensor has traction. He also says that the initial price for the Q was a mistake. Way too high. There was always a plan to go to 1/1.7 sensors from the beginning.
@mee : Yep, he definitely said that FF was a fad for a while but he didn't say that Ricoh wouldn't be doing something in that space!

Again, I'm sure he didn't want to spread rumors and he no doubt wanted to present Ricoh's commitment to APS. My own thought is that Pentax/Ricoh has had plenty of opportunity to dump the K-mount and mirror box and make an APS specific design that could be smaller. They didn't. Are they just waiting for what they think is the absolute most perfect moment to go FF? Maybe.