I have posted this idea first in the speed booster post, but I think here it'd be also appropriate.
What if... the full frame Pentax used an APS-C sensor? These APS-C sensors are pretty good. Use one with PDAF. Instead of the mirror box there will be something like the Speed Booster adapter. This adapter can slide to the side, or better yet, to the area where the pentaprism used to be. If you are not aware of the adapter, it's a reverse teleconverter. Making the image circle smaller and brighter. As a result your 50mm full frame lens will be 50mm on the APS-C sensor, but f1.2 rather than 1.4 (for example). As the adapter can be used, or not used, you both have an APS-C camera, compatible with the APS-C lenses, and a FF camera. And you can use FF lenses like on an APS-C camera, giving you a higher focal length. Since the FF lens will be faster with the adapter it may not do much worse than a real FF sensor, but you do get much more flexibility (which given Pentax' lens line up wouldn't be a bad thing).
The adapter is quite expensive, but it is produced in small numbers. Pentax may bring down the cost a bit. Also since you don't need to use an expensive FF sensor, who knows, maybe in the end the camera will stay below the pricing of a regular FF camera. It may even keep a similar size to the K-5 (the optics in the adapter don't look very big:
http://2.static.img-dpreview.com/files/news/8961802602/520/speed-booster.jpg?v=1907 ). Sure doing this won't be trivial (a movable part that needs to not let through light next to it in both positions, and that needs to be in precisely the right position when in use...), but the advantages... It is also something that no other manufacturer has, or ever will have (they already have FF, while Pentax doesn't). Wasn't Pentax looking for something that differentiates them from other brands?
Finally, oppo for example is now using a 5" Full HD screen on their latest and greatest phone. Give us something like that as a display (maybe smaller, so that there is still space for the controls). Cover it up with Gorilla Glass 3, that is placed a bit recessed. With such a high resolution manually focusing during video should be easy and enjoyable. Heck, I could even imagine a detachable, wired (enough range to have the camera in any position you want within reach of your hands) viewfinder that can be mounted to your glasses/head.
Edit: Thinking about it further, the size looks like it could easily slide to the right side of the camera. Should make it easier to keep the exact position, and to avoid light leaks. As viewfinder... basically this:
http://www.amazon.com/Sony-FDA-EV1S-Electronic-Viewfinder-Digital/dp/B005K8AUOI But wired (it could even be optional to save money, so you can have no viewfinder, one that plugs into the camera or a cable to make it possible to have the viewfinder in use away from the camera. A rubber strap could be attached to it, and then go around your head. Won't be pretty, but hey, it might be useful. You'd be easily able to get all sorts of angles, under any light condition (tiltable screens won't work under harsh sunlight...)).