Originally posted by Mountain Vision I never used the MZ-S, so I'll default to your opinion on it. But I did use the PZ-1P for quite a few years before I bought an istD and the transition between the two was very easy.
On the plus side for the PZ-1P, currently the price is very low, so buying one is pretty easy entry. If it doesn't work out you can always buy into the MZ-S which still has a higher selling price.
I also used the *ist for a while before the the digital switch and it was a great little camera but I never liked it as much as the PZ-1P. I think Pentax really hit the specs and ergonomics with the PZ-1P. That 1/250th flash sync still hasn't been replicated on a DSLR.
I have both the MZ-S and the PZ-1P. I agree that the PZ-1P handles more like a DSLR (like my K-50 and K-70), that's one of the things I like about it. Those dual control wheels and hyper modes are the best way to control, my K70 does it the same way. The MZ-S control dial is a little more awkward to adjust, and it is really more of a Tv adjustment though it does allow you to change exposure even if the lens lacks an aperture ring. The PZ-1P feels great in the hand. I added an inexpensive grip-strap to mine which is even better. It is heavier than the MZ-S, but still about the same weight as my K-70. In some features the PZ-1P has better specs than the MZ-S.
People complain that the MZ-S is expensive, and it is more expensive than most used film cameras that I've purchased. However, I got mine for $239 plus shipping from Japan, about what I might spend on a digital point and shoot. My PZ-1P was $70, about the average for them at the time. I was prepared to spend what the MZ-S costs because of it's significance in the Pentax line. I later got the BG-10 grip (which is really nice, especially for vertical operation) and the SMC Pentax-FA 24-90mm F3.5-4.5 AL [IF] lens that was the original MZ-S lens. Both of those accessories were a bit expensive as well, but I'm glad I have them to use with my MZ-S.