Welcome to the forum and Pentax cameras. The K110D is a nice camera. It is more capable than most photographers. It has pro features that only showed up on very expensive cameras 5 years ago.
Firmware updates are a great advantage of digital cameras. New features and better accuracy are often easy to add.
Raw is great to shoot. It really allows you access to higher quality images. Hardly ever shoot any thing else. Prefer 4gb cards with that camera. Just in case something goes wrong with a card you don't lose every thing. Rather use 2 4gb cards.
thanks
barondla