The K-7 and a pancake lens (eg DA40mm Ltd) is a very neat, small package albeit heavier than a P&S. It has all your requirements:
- low weight/dimensions
- a good picture quality, even if not excellent as my K7
- movie mode in FullHD, zooming while rec
- if possible shoots raw.
is it viable?
Recently I travel overseas very light: a cabin luggage for a 6 days trip, including my K-7 and a prime lens. I love it and took great pictures. I had to compensate the lack of zoom by moving around to get the best shot with the prime, and I enjoyed it. Many colleagues were surprised by my camera selection, but the bulk is no more some advanced P&S and the quality is far better.
Food for thoughts....