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Absolutely, the K5 looks to be a very serious contender that has the potential to rock Nikon and Canon to the core. This is why I would so dearly love Pentax to make themselves more competitive and attractive. I agree totally with you that not expanding the lens range to become a viable alternative (or even better alternative) to Cankon was a mistake.
I'm looking at buying the Pentax from a non Pentax owner's perspective. What would Pentax have to do to make me want to sell my camera and lenses and jump ship? The K5 certainly looks like a fantasitic camera body but, if the D7000 comes close in its IQ, there isn't much incentive for me as a Nikonian to cross to the Pentax. Doing so would mean selling all the lenses, flash and other sundry items at a loss and replacing them with Pentax equivalents, which is a further expense. Also my little 50mm f/1.8 only cost me £100 new. The Sigma 50mm f/1.4 is £300, £100 more than the Nikon f/1.4D and the same as the AF-S version.
This is the same scenario that a great many photographers will be facing and will most likely prove to be financially unviable for the majority. They may be able to afford the £1100 for the body with funds from the sale of their current one to go towards it, but its the replacement of the lenses which will probably be the deal killer, particularly the pro grade glass.
With regard to Jessops, like them or loathe them (and I'm in the latter since they are part owned by HSBC and I loathe banks even more) they undoubtably account for a great many camera sales in the UK, getting voted the best retailer2010 if I remember rightly. The fact that so many people go there and that Pentax isn't stocked will definately be a major blow to both their product awareness and market share. I know they don't stock Leica but in fairness its like comparing apples and oranges.
Leica are and always have been the Rolls Royce of cameras, with a formidable reputation and price tag to match. They are subsequently positioned in much more of a specialist niche market. Pentax on the other hand, are trying to appeal to the same Amateur/Prosumer markets as the rival ASP-C, Nikon/Canon/Sony/Panasonic/Olympus cameras. The fact that they aren't stocked by Jessops can only be a negative to Pentax, unfortunately.
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