Welcome aboard, and great pics!
Both cameras are a massive upgrade over the K-500, in just about every way. The K-3 was the flagship model launched in 2013, while the K-70 is a mid-range model launched in 2016. The latter has a newer sensor with lower noise at higher ISO settings as well as a more customizable UI, pixel shift, continuous video autofocus with DC/PLM lenses, and built-in Wi-Fi for smartphone remote control. It uses the same battery as your K-500 (unless you're on AAs of course).
The K-3, on the other hand, is built to be much more durable, has a higher shutter longevity rating, better ergonomics, longer battery life, dual SD slots, and slightly better viewfinder AF.
So, I would consider whether or not you value features or durability more, and base your decision on that. In everyday shooting the image quality of the two is very close, with the K-70 carrying a slight edge in low light thanks to the newer sensor and enhanced noise reduction processing.
Pentax K-3 Review - Introduction | PentaxForums.com Reviews Pentax K-70 Review - Introduction | PentaxForums.com Reviews Adam
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