I would HOPE that if 1.03 provided a fix, Pentax would tell me, since I've been in touch with them so much about the issue. But stranger things have happened
Monday, I'm going to shoot with one SD card, but use live view a lot, and see what happens. If the mirror-flap does occur, then I'll try shooting the next day without using live-view.
My guess would be it's live-view causing it... and shooting time-lapse, you want to be able to use live view since the camera is likely on a tripod. However, I'm still open to the idea it might have to do with the 2 SD cards as well (which seems odd, but I'm open to it). The only way to truly test, is isolate both conditions, so that's what I'll try next.
Yeah, I don't like being the "go to" person for this... but at the same time, if we figure out what causes it, it's more likely to get fixed... which will mean I can keep the K3 with confidence. I really like the camera and don't want to have to get rid of it!