Re: And ISO 40,000 compared to 400 ASA film:
Again, these are just test shots, but I have to say I'm thoroughly impressed with what the K-3 can do at ISO 40,000. Sure some of the shadow detail is a little smudgy in certain spots — and there are plenty of shadows to be had in this one — but my Canon T2i (RIP) looked like this at 3200! Note the lack of noise in the well-lit areas of this photo. Just fantastic.
When ISO 40,000 looks better than 400-ASA film, I think that's a HUGE win.
Pentax K1000 with SMC-M 50mm f/2 lens on 400 ASA C-41 film, I'd guess near f/4.5 and 1/60" shutter speed; manual scan from the negative. Though I like the contrast, colour rendering and almost harsh style of the film, the level of detail and fine grain in the K-3 shot is simply miles above what this colour negative film can offer or attain. And again, the more detail you have in the original digital file, the more freedom you have to recreate styles like this film in post.