For what it is worth, a full frame sensor body will probably not be able to be shown any time sooner than the next Photokina in 2014. If the first engineering contact between Ricoh and Pentax was in April - 6 months after the purchase, that is telling. The first 6 months was Ricoh going through Pentax and determining just exactly what they bought. Also, if I remember correctly Ricoh had some layoffs a year ago (across their entire company), and their last financial quarterly report recently featured some red ink - especially in the camera/imaging area. So, they have been in the process of figuring out, what in the realm of potential is actually possible within this current economic climate. What of their wishes are actually possible and feasible.
I do agree with Aristophanes that the pricing of the sensor is key to bringing a new body to the table, at a reasonable price. The FF sensors are just starting to reach some significant volumes, given the recent product announcements. It will probably be a year until the unit pricing will be where Pentax may feel comfortable with the commodity pricing.
Also, I believe that one of the challenges that they will be seeing, is in the area of movement that the inbody SR requires, and the affect it has on the size of glass in terms of the image circle. This was not a concern when Pentax was using FF lenses an ASP-c sensor, the additional room was there already, thus an advantage. In returning to a FF sensor, this is actually working against them, as they are going to probably need to enlarge the image circle to some degree across their lens library. Also, if they are contemplating the use of lens based image stabilization as their 90mm 645D offering may demonstrate, they will also need to have a larger image circle, and also need to figure out how to package the additional electro-mechanical mechanism within the smaller FF lens packages - thus potentially loosing more of their current advantage of small lens size in moving to FF. Canon and Nikon have been using lens based IS for years - going back to film, so they have this exercise down pat. Sigma has just started down this path, and look how large their lenses are. Also, the Canon and Nikon users have accepted the larger physical sized lenses. I do not think that this will be quite so accepted by Pentax users - since we feel that the smaller lens sizes are one of the positives of the brand.
Regardless of what the product plans are, Pentax has additional problems at hand. Marketing has always been a weak point, that will need to be addressed. It is interesting to see that some of the Regional Country Managers understand and have actually apparently gone out on their own and put together some pretty nice advertising campaigns. Maybe Japan can learn and use the expertise of their country management to market to their respective customer base - and hopefully the world wide customer base.
Product distribution is yet another - web based or retail (B&M) and if so, which ones, where and how. Some pretty nice suggestions have come from right here on the Forum. Where they go is the problem. Is anyone actually reading and listening? Which also leads us to the current MAP or MAD (Mutually Assured Destruction) as B&H has indicated - lens purchases have ground to a halt with MAP. Who knows what actually happened (Ricoh or Pentax or in-between, Japan, US or somewhere in the translation), but the current lens pricing debacle shows that in the end, something happened, and it had an adverse affect on the consumers (us - you and me). The consumers responded quickly and stopped buying. Message delivered, however what will be Ricoh/Pentax's response? Did they learn anything from the exercise? Having a round 2 indicates that they did not learn enough (or anything) from round 1. Also Round 2 is still here. I have not read about any changes, other than B&H along with Adroama have suggested to not order on the web - but to call them for "special" (i.e., more reasonable) pricing.