fixed it 4 u

if you want cheap, I'd say go with simple clamp on styled incandescent light available from the hardware store for under $15.00 and try out some incandescent/cfl/halogen/led bulbs... but some gels and parchment paper for color / diffusion and make your self some "paintcan" lightstands and get good with your lighting skills, becuase everything you learn from that bit of kit, will be directly benificial when you start working with flash, and there are cheap slave flash units that screw into standard light sockets so your "Ultra cheap" lights and stands will still be usable with your slaved flashes... then move up to more expensive gear...

possible video codec update? or manual audio gain?

no freakin clue..you tell me?

I knock up to ten years off a lady's age with just lighting.... a few more with camera/light angles and diffusion on or in front of lens... erase a few more wrinkles by overexposing the skin...
I call that.... "Doing my job"
then there's photo shop...lol!

try this... when you have shot's you're not happy with analyze them... was it user error, technique or camera error? if no to those then ask yourself "Could I have gotten the shot I wanted with...xxx piece of equipment?
if your constantly walking backwards into things while trying to get the shot, then you know you need a wider lens... if your subjects are too small in the frame then you need a macro or tele...

so as a begginner, I'd say this...first learn the gear you got, then when you understand a little more about what you need, you'll have more specific questions and people will be able to get you more specific answers... but as you develop those skills, you'll know what you need.
other than that, I'd suggest when buying new gear, that you look for ways to ADD to your capabilities before you start replacing or replicating stuff you already own...

I myself prefer to use both good gear and less expensive gear... sometimes getting the shot is the most important thing and other times getting the best shot possible is the priority....
know what each peice of equipment is capable of, and having the skills to use each to it's fullest potential is what separates the pros from the amateurs.

for example I used a 35 2.4 and a 100mm macro to shoot stills video on a cooking show...
no way I was gonna shoot sputtering grease in a pan with my expensive macro, and no way I was gonna do a double page magazine spread of the finished dish with anything other than my 100mm macro...
as for photoshop... you can do wonders in post..but.. time is money, and "Fix it in post" translates into "I don't know what the hell I'm doing, but I hope I can fix it later in photoshop" on a real job, esp when there's lot's of images and footage to work through.

I have fast computers as it is, but would need a supercomputer to handle the resolution of those files from a wedding shoot... lol! and still only be selling mostly 8x10's lol!

sorry to disappoint..but.. this is trickle down technology that won't translate well into consumer products....
unless an equally staggering breakthrough in lenses comes along the optics needed to make use of this sensors resolution are beyond the reach of all but a few government drone/spy plane/satellite/astronomy programs..

might as well be promising scramjet engines for ultralight aircrafts...

Hey at least the promo photo isn't promoting it as "Poop resistant"...lol!
looks like a cool cam.. not gonna replace any I already own though.. Pentax needs to seriously look at Go-Pro's offerings and come up with something to compete...
also go-pro has turned a "Win one of everything we make" evryday online contest into an online and social networking advertizing Juggernaught.... something Pentax should look at how they did it and see if they can come up a marketing ploy that works.