Yeah that's kind of frustrating, the K5-IIs seems very appealing to me, but you never know what Pentax keeps in the backyard.
But I'm rather inclined to not wait and take photos, I prefer doing that instead of wait and not taking photos. And the K5 is already so great, as you pointed out, that the limiting factor will often be the thing behind the viewfinder. So let's buy this little bomb and enjoy making photos, instead of waiting and save money for some D600 or whatever. Unless you're a pro, the K5 is already a killer, I thought of switching for a 5D many times, but the more I progress, the less I think about it.
There is so much things to learn about framing, lightning, exposure, focus, relation with the model for portraits. Things that are all the same with all the cameras, that I prefer to stick with my gear and just make photos, its better than not doing photos and buying new bodies/lenses every year.