I think it's a great move! Pentax cameras are great, but so heavy. And that weight completely offsets the advantages of having one of the lightest, most compact and most versatile lens systems in the market. I think it's prime time for Ricoh to abandon the silly steel chassis once and for all. A monocoque construction like the new Nikons would be fantastic, since it can actually reduce weight by 50-60 grams by itself. In Pentax's case, I'd say it'll probably shave a hundred, maybe more. Couple that to the small and lean body, and we're looking hopefully at a camera that's under 500 grams, which would be killer.
Of course, the features are just as important. If it has 24 MPix, touchscreen, the K-5II AF, is weathersealed, and has the K-3's battery, I highly doubt anyone would have a cause for complaints. Of course, I realize it's completely unreasonable to ask for all that stuff in an entry-level camera
So the question is, just how many of those items will it have? And if it has a majority of them, what the hell do we care that it has garish LEDs or looks like a techno-mongrel?
BTW, if one looks really closely at the front view photo, the outlines of the AF boxes can barely be made out. Is that an 11-point system, or am I just crazy?