Let's do the math....
A "proper-imported" K-7 body is $970 (check Amazon).
So you're looking at $135 "saving."
Is Pentax official warranty worth $135 more than Camera King store warranty? Only you can answer this question.
For me, the answer is yes. I'd rather pay $135 more to get Pentax warranty. Note that the "standard" warranty from Pentax is 1 year, but if you call Pentax and nicely ask for the addition 2 year warranty, they'll send you a card, not only good for 2 more years (for a total of 3 years), but also good for one time CLA during the warranty period.
It's the exact same extended warranty as
this one. The only difference is that Pentax doesn't charge you.
Note: this extended warranty does not apply to the K-x.