My only issue with the K5 is identical to twitch's first paragraph - the size stops it from going everywhere with me.
I'd prefer a bigger sensor than the compact P&S, and while the micro 4/3rd cameras seem pretty solid trade-offs to me sensor-wise, adding lenses doesn't make them much smaller than the K5. Same with the Sony NEX, although I'm not generally fond of or leaning towards Sony solutions in general.
The x100 is neat, but fixed focal lens - not for me, I could just put a prime on the K5 for the $.
The x10 - maybe. Oddball sensor size, crop factor of almost 4, still larger than some, but not so much bigger than cams like the S95 or G12. The non removable lens has a decent range to it, not sure on image quality.
i'm thinking Nikon probably did hit the sweet spot overall on sensor size, although with lens, I'm not positive that it's not much smaller than a micro 4/3rds.. still, a 1 series and 10-30mm might not be too bad in the next generation or so.
Granted, systems like the Q, Nikon 1 are also way over-priced currently, IMO - I'm not looking for a second entire system for that kind of $. An x10 ILC, or v1/j1 at 1/2 to 2/3rds of the current cost starts to look reasonably compelling, though. Same for the Q, potentially, but not at the asking prices today. Give me a smaller system with decent quality with a useful single lens for ~$500, with a few future upgrades like one additional zoom or prime lens, not $900 camera + $300 lens + $250 evf + < more >.
I guess I'm looking for an ILC version of the x10, or a
maybe a v1 at half the price. If I had to pick one today as a real consideration, it would probably be the x10 for size vs expected performance and usefulness/preferences. Of course, I'd also prefer it to be WR, but..