I just found out, reading Pentaxforums, that apparently Ricoh is working on a compact camera based on Pentax K mount. It this is confirmed, then it is excellent news for us, Pentax users. I own a Pentax P30, my first SLR camera, purchased back in 1991, with which I learned photography (and made many shots of fond memories to me). In 2007, after a period using a Nikon SLR, I decided to come back to my beloved Pentax, and purchased a Pentax K10D, which is truly a pleasure to use.
But during the last months, I had seen with interest (and envy!!) the news regarding the development of the new micro 4/3 system from Olympus/Panasonic/Leica, and it was somehow disappointing to see nothing similar coming from Pentax: in fact, the equivalent system from Samsung (which was widely speculated to be done in collaboration with Pentax) was finally confirmed to have nothing to do with Pentax.
Ricoh has nothing to demonstrate in terms of know how in the field of photography. Therefore, this rumour points to potentially very exciting news, since the wonderful pancake lenses from Pentax, in combination to a small body, might be THE ultimate camera to bring with you everywhere without selling image quality for convenience.
All in all, I will be very happy if this is not vaporware but a real development, and will follow the story with close attention during the next months.