It really does depend on what sort of results you're happy with.
The K-5ii is obviously the more flexible camera, with a much wider sensitivity range, and I'm not sure that the "CCD Magic" in your K10D will come across in monochrome.
If you're happy working in bright sunlight at f/8 and similar, either camera will be perfectly adequate, but if you're after the gritty grainy look, chasing black cats in coal cellars and similar, the K-5ii will win out virtually every time … wind up the ISO, close down the aperture, keep the shutter speed up and go for it.
The results may not be everyone's preference, but it's what you like that matters … and I like gritty grainy look with no shadow detail, just like the old days
That's not to say the K10D won't do "moody, gritty, grainy", but the K-5ii will allow you to do it in a much wider range of scenarios!
Enjoy