Originally posted by Philoslothical Except that, AFAIK, no Pentax DSLR uses a beam splitter for its exposure metering, so an LPL is only going to affect AF. You do lose some light with any polarizer, which affects exposure, but that's the normal, intended effect. Cross polarizing of light hitting the meter isn't an issue.
My understanding is that the exposure system is behind the focusing screen inside the pentaprism housing and the autofocus system is at the bottom below the mirror.
The main mirror has a semi-transparent window to let light hit a secondary mirror below for the AF system.
Part of the reflected light that reaches the focusing screen is provided by the semi-transparent window. If that window, and the secondary mirror and AF system below, are sensitive to the polarization angle, they will reduce the reflected light and the exposure will be off.