The AF on these cameras is really quick in LV and non-LV modes, and image quality looks really amazingly good at 10 and 14MP on an APS sensor from the samples I've seen at ISOs up to 1600.
One drawback: slow continuous shooting 2.5 to 2 frames / second on the 14MP model. That's what you get using the low-end image processing pipeline designed for a 10MP low price camera.
Still, looks like a really fun camera for shooting events where 3fps is enough (on the 10MP model). And it's stabilized with a cheap 50/1.7 or 50/1.4, which nobody else but Pentax offers.