[Bcrary3]

Yes. Although it doesn't quite have some of the features of the K-3II, like the dual card slots and a built-in GPS module. Which is why many (most?) are expecting to see a K-3II successor at some point in the future, possibly quite soon. My advice would be to postpone a camera purchase until about November in case Pentax rolls out something special for its 100 years anniversary and if it doesn't, pick a KP during the Black Friday sales.

Never had a need for GPS or the dual SD slots,
however, I think this might be the smart thing to do. I may pick up a second hand K3 (they're only about $400-600 used) and hold off to see if they announce a 100th Anniversary camera, if not then I will probably pick up a KP (depending on price of K1).

Maybe for the time being just buy new glass to put in front. Just picked up a Sigma 50mm f/1.4 for about $350us; should be here tomorrow afternoon!