I, also, purchased a K-7 for my first dslr and I opened the box this weekend. Today I returned it as it had a defective shutter/mirror, but that is another thread. I had a Minolta X-M-1 for a lot of years (1981 - 2004) as is my tendancy to buy good quality gear and hold on to it. A burglary several years back promoted me into digital point and shoots. I still use a Sony Cybershot DSC-W150. I am an avid backpacker and wanted a high rated P&S that was very light, and this Sony has been good to me that way.
But, I also run river trips yearly (I live in Arizona) and the waterproof aspect was getting increasingly troubling. Plus, I get to such great places (Grand Canyon, Utah, etc.) that I had to capture better images.
I researched for literally hundreds of hours before I decided on the K-7. I wasn't even considering Pentax before I started and my friends all steered me to Canon or Nikon. So, from my lay perspective and utilizing the amazing tools available on the web, I concluded that the K-7 was the best value and a camera that I could keep and enjoy for a lot of years. It is heavy, but I am willing to make that tradeoff.
So, if the replacement camera arrives and works, I will not easily look back. From my research of lots of forums and objective reviews (at least, they appear to be objective), the K-7 should be a camera I can enjoy and pass down. I just hope the next one works!