It's a specialized market, but a consistent one. It's the same niche that the K1000 occupied for decades.
When a photography instructor would tell her class to go buy an SLR, they would invariably be sent out for K1000s. The value is in having a camera WITHOUT the option to use automated features. During most of the lifetime of the K1000, there were cameras which had much more automation that could also be turned off, like on your K10D. But there is real value in having a camera where "manual mode" isn't the option -- it's the way you use the camera.
I think that there are substantial production savings to be had making a camera without a number of features. Those production savings open up an entire world of customers, many of whom will be directed to the camera because of its value as a learning tool and as a classic photo-making machine.
Here are my proposed basic specs:
- 6mp or 10mp APS-C sensor, amortizing the current chips even further
- Pentamirror viewfinder with microprism collar for manual focussing
- small top LCD displaying shutter speed, f/stop and shots remaining
- Control wheels front and back, dedicated to aperture and shutter
- Mode knob to select -- P / Av / Tv/ M
- Picture review -- in-the viewfinder with histogram, or small rear LCD, or none at all
- Quality toggle switch -- RAW / JPEG FINE / JPEG SMALL, with JPEG options prebaked for sharp, colourful, contrasty rendering
- SDM autofocus or manual focus (no AF screw)
- build quality on par with MZ-M -- plastic chasis, plastic lens mount
- Powered by 4 x AA batteries
These choices are about removing unneccessary complexity (the interface choices), removing expensive mechanical parts (the metal lens mount, the custom Li-Ion battery and charger that must be included with a camera, the large hi-res LCD, the AF screw motor.)
The price goal for this exercise would be a new DSLR with an SDM 18-55 for $300.
I know that a large LCD might need to be included because of the current market expectations. I don't know how cheaply that could be included. But if it pushes the price back to being just a little less than a K100D, then the point of this camera is lost. I guess if a rear LCD is included, then you could ditch the small top LCD and save $0.50.
Similarly, I don't know how expensive Pentax's new in-the-viewfinder review system is. If the top of the line K20D is using in-the-viewfinder review, and top photographers are not chimping any more, than it might be very cool to have an entry-level camera that worked the same way.
It would also be nice to see an SDM 28/2.8 or SDM 35/2 for <$150. The single, "aspiration" prime that stores could stock as an option. These should be like the 50mm -- since the rise of the zoom, the fast 50mm was the "next lens to purchase" for most people, and could be had for a reasonable amount. Most consumers and students balk at paying as much or more for another lens than they paid for the camera.
I would buy this camera as a backup, and recommend it to everyone who wanted something better than a $150 point-and-shoot. Most of my friends and family stop looking once the camera price hits $300.
My $0.02
Dave