Hi, upinmcleod. I was in the same situation and was choosing between these cameras, and also a Nikon D90. I will not be able to buy many lenses and I studied for months, going over tons of material.
I decided to buy the K-x for now and enjoy it. Someone already said Pentax seems to have pushed really hard to get to this low price point and so it is unlikly to drop much, particularly given the good sales. The latest news, e.g. in 1001noisycameras.com, shows that it is selling really well. So, you may have to worry about an increase in price by waiting if stock should run low. I mean merchants may not price it as low even though the RRP stays the same, if they cannot get enough of them. There is of course a chance that it may drop in price, but the chance is not so good and how much can it drop with this basement price for a really good DSLR?
If you decide to wait, then wait longer. Wait for the K-7x. or whatever the updated K-7 with the K-x sensor and noise algorithm. That's what I really wanted to buy and I am waiting too, but I bought this K-7 in the meantime so I can start taking photos with a DSLR.
There is another reason to wait to get a new product, apart from price drops (which is unlikdly and probably not much if it happens), and that is for teething problems to be fixed. Manufacturers often make refinements in time. There are some reports of battery indicator issues and fuzzy images. I believe the former has been fixed in the new products or by firmware 1.01. The latter appear to be sample variations in the lens, or the camera logic, or operators' misunderstanding. I am not sure what it was. I had upgraded my camera to 1.01 firmware. Had never had problems with batteries. I did have some fuzzy images, but have not noticed them again since resetting everything to remove camera post processing like chromatic aberration and distortion correction, highlight or shadow exposure adjustments, AND being careful with camera shaking, adequate shutter speeds, using tripods and careful focusing... I think I am lucky, as everything is perfect.
My advice is that it is OK to buy, but check your camera carefully and thoroughly. And make sure you buy from a place that you can return the camera easily.
I decided to buy the K-x for now and enjoy it. Someone already said Pentax seems to have pushed really hard to get to this low price point and so it is unlikly to drop much, particularly given the good sales. The latest news, e.g. in 1001noisycameras.com, shows that it is selling really well. So, you may have to worry about an increase in price by waiting if stock should run low. I mean merchants may not price it as low even though the RRP stays the same, if they cannot get enough of them. There is of course a chance that it may drop in price, but the chance is not so good and how much can it drop with this basement price for a really good DSLR?
If you decide to wait, then wait longer. Wait for the K-7x. or whatever the updated K-7 with the K-x sensor and noise algorithm. That's what I really wanted to buy and I am waiting too, but I bought this K-7 in the meantime so I can start taking photos with a DSLR.
There is another reason to wait to get a new product, apart from price drops (which is unlikdly and probably not much if it happens), and that is for teething problems to be fixed. Manufacturers often make refinements in time. There are some reports of battery indicator issues and fuzzy images. I believe the former has been fixed in the new products or by firmware 1.01. The latter appear to be sample variations in the lens, or the camera logic, or operators' misunderstanding. I am not sure what it was. I had upgraded my camera to 1.01 firmware. Had never had problems with batteries. I did have some fuzzy images, but have not noticed them again since resetting everything to remove camera post processing like chromatic aberration and distortion correction, highlight or shadow exposure adjustments, AND being careful with camera shaking, adequate shutter speeds, using tripods and careful focusing... I think I am lucky, as everything is perfect.
My advice is that it is OK to buy, but check your camera carefully and thoroughly. And make sure you buy from a place that you can return the camera easily.