This has been covered countless times already on this forum. A quick search will get you all the answers you could ever ask for. When searching the forum, there are two search fields. The forum's, and a Google one. Use the Google one, it gives much better results.
A quick list:
- no difference in quality between DNG and PEF
- PEF takes less space on earlier cameras (because it's losslessly compressed), but PEF and DNG take up the same space on the K-7 and maybe Kx (because lossless DNG compression is now supported too)
- PEF format changes from camera model to camera model, so is not always supported by software right away. DNG always stays the same.
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