I've taken my K-x out several times when it was raining, anything from misting to straight showers. Yesterday, the rain was coming down good when I was out with my FA50 f/1.4 w/ cheap hood and CPL, but I didn't experience any problems taking pictures. When I got back, I let it dry before I put it in its bag, which has the silica packet in it (great idea to keep them, don't throw them away), and it started up fine later when it was all dry. I know it's not WR-rated, but I feel as though it might stand up nicely in the water, especially if you take care to cover the mic input, as that always concerns me with water getting in there. Here are two shots from yesterday, out in the rain, both wide open: