According to DPR, £799 for the launch mounts. so we are looking at that price.
Would I want one? Well LBA is a condition, so yes. But it will be a big brute, and anyway I already have the Tokina 20-35mm F2.8 ATX Pro lens, which in itself a big heavy brute. Hmmmmmm but F1.8!

I can see where you are coming from here. But I still would look at the Pre-owned market. I say pre-owned as opposed to second hand due to lenses being great second-hand, and "Pre-owned" sounds better.

A good place to look for would be Ffordes in Scotland. The have a web site and will deliver. You could look for the following:-

50mm - SMC-F, SMC-FA in either F1.7 or F1.4 guises. both will cost less than a new DA-50mm or even a new FA-50mm F1.4
35mm - Difficult this one, as the SMC-FA35mm F2 prices have shot up. But worth a look. You may be lucky and get an SMC-F 35mm instead. Having said that, the Sigma 30mm F1.4 are filtering down to the pre-owned market now, and you may find some at good prices.
85mm - Yep Samyang. But recently I have been to a local second-hand dealer and they did have old M42 screw mount Takumars in both F1.8 and F1.9 flavours for around £200-£250, add a K-M42 for a tenner and yet another superb manual lens to use.

Hope this helps

Oh one other thing, all the lenses are FF compatible. Yep even the DA 35 and 50. I know I have tested on a film camera.

Some interesting comments have been put forward, mainly to do with the styling. However, lets put ourselves in a non-pentax users shoes. Someone who is either new to DSLR's or wish to change to something better.
In the past, and it something we all have complained about, you go into a large camera store with all the brands cameras lined up. CaNikonY have large rows of all the DSLR's they have, big shelves enticing the buyer. In a corner, almost forgotton, is Pentax, showing off a mere two bodies. Looks a little sad really. Now, today, Pentax Can have a bigger area, Four, yes FOUR different bodies, the K500, K50, K-5II and K-5IIs. Now that looks a bit better to the potential buyer. Add the 645D and it would really good.
Now, look at the rivals. Well Canon really produce 3 models which are more or less exactly the same (600/650/700)Same bodies features etc. All use the same sensor, yet not one of them have the USP of the K50 and that is the weather sealing. At least Pentax have made this a difference and priced accordingly.
Oh another thing. Canon users are not happy, as they consider the 18MP sensor in these cameras rather old hat, and lacking the performance compared to rivals. At least we KNOW that the 16MP Sony sensor is one mighty unit and a joy to use, even now.

So, for me, it is a great start by Pentax, finally the Ricoh purchase is now paying off, We have more bodies on the shelves to entice more buyers, which is exactly what we want, as more sales=more investment, and more bodies and importantly, more lenses.
I still anticipate that this is not the end of product news by Pentax this year, as the analyst that I am, anticipate a new top end APS-C by the end of September, and well before the end of the year, the news we all have been waiting for, the Full Frame body.

Finally I did read on the web yesterday. Someone said Pentax is becoming a Cool and hip brand now, none of the stuffiness of the others. Perhaps they are right.

Keep it up Pentax, I am delighted.

If you want to customise your K-50, here is the colour selector

http://www.camera-pentax.jp/k-50/#1205

Link from DPR here:-

http://www.dpreview.com/news/2013/06/12/Pentax-launches-k-50-k-500-16MP-mid-and-...

So, my prediction of within a week or two was a little out......

An alternative answer. consider second-hand.

SMC-M 50mm F1.7 is less than £50 and a beauty. I have one and it is superb. I will also blaspheme and say it is better than the FA43 Limited (I did a comparison and that was my conclusion)
DA35mm is great, but you think a nikkor is better. I may beg to differ, However look out for a SMC-M 35mm F2.
Finally, There are some Samyang 85mm F1.4's appearing second-hand for less than £200. AP actually rated it better than the mighty Nikkor F1.4 in image quality.
Downside is that all of the lenses are manual only, but such is the tactile delight in using them you won't notice.

Seriously, consider these options as they are great lenses on digital.

EDIT - I forgot about a 28mm. Again Look for an SMC-M 28mm F2.8. I don't have an "M" but an "F" and it was not cheap. however the reason why is that they are very much sort after. But the M is similar optically, but lacks the AF, hence why it is cheaper.

A little more sober body to the K-30, same ISO performance as the K-5II. I think what is going to happen is thus:-

K-50 official in the next week or two.
K-5 replacement end July/Early August with possibly 20MP sensor
K-FF mid/end September.

Loads of solid rumours about new cameras during the course of the year (Starting with the Pentax/Ricoh GR recently) so this roadmap may just fit in.

Here's hoping.

Cheers guys.
I went to Real Camera Co today, no Z-1's in. However they did have an MZ-7 in good nick. So for £20 I now have an MZ-7 to replace the MZ-50 that has failed. Now to get a roll of film in and give it a run in France next week.

My MZ-50 has given up the ghost. Not worth repairing even though I got it second hand 12 years ago.
so, now I am left with a single K-mount film SLR, my MZ-5n which I have had since new.
So, to get a second K-mount body, a body that will take the FF compatable DA primes I have as well
Having looked at the various forums and Bojidars excellent site, I am considering the Z-1p.
Of course I need to look for a good cheap example that works but that is another matter.
It is a brute though, reminds me of the Nikon F90x that I also have. But of course it is a Pentax!
So, do any of you have the Z-1p and what do you think? Is it a realiable beast as well?

Look forward to hearing from you.

One camera, one lens is tough at the best of times, but a whole weekend?

Unless someone brings out a 10-1000mm F2 Macro Pancake, it will be very difficult.

But needs must and North Wales is photogenic.

The Tamron 17-50 is the obvious choice. Fast zoom, some macro, great IQ. but as someone has said, a zoom lens could be considered cheating.

So with that in mind, go for the DA35mm F2.4 instead, and look at the photoworld differently, you made be surprised.