Actually the first step is to set your camera to either "bright" or "natural" in the Custom Image settings so your on-camera preview will be at least somewhat close to real-life.
But disregarding that, the effort is pointless. The K-7 does not necessarily give accurate colours with its JPEG engine. Getting a K-7 colour profile won't help you at all. After all, what are you trying to match colours to? An incorrect in-camera engine? You won't be able to come up with a single UFraw setting that gives you an accurate result for every picture you take. Each picture taken under different circumstances will require completely different settings in UFraw to get the look you want. After all, what's the point of trying to match your camera's JPG files? Aren't you developping RAW files to end up with BETTER results than your camera's JPGs?
edit: I tried the same futile exercise back when I first got my K-7. I quickly realized that the effort was pointless, and all a "colour profile" did was make things more complicated. I use UFraw to get the picture to look like I imagined it would when I was taking the shot. Not to colour-match nature.
edit edit:
Here's a link to my earlier futile exercises.