I guess I'd like to use the mechanical shutter with the mirror locked up so as I understand it, that is accomplished with live-view in non-ES mode? Great, and then there is ES mode when one wants another level of vibration reduction. It sound's like mirror lock-up is applicable to timer-delayed pics which is good such that the camera doesn't have to be touched at the moment of shutter release, again addressing vibration issues.
My point in asking about this is going toward my intent to use my K-1 on a telescope for the upcoming solar eclipse and I don't want the mirror flopping around but I would like to see the view and focus without using the OV. Sound's like that totally possible!