I don't think it's so much a matter of Pentax moving up to full-frame
as full-frame coming down to Pentax's current demographic. Right now
the entry point for full-frame is $2000 (U.S.) but absolutely no one
believes it's going to remain that high. 

What's interesting to me is the question of which direction Pentax
eventually takes with full-frame: High-megapixel and high resolution
(like the Sony A850) or big-pixel-size and low-noise (like the Nikon
D700). I'm thinking it might be the latter...

The 645D is interesting, but it still leaves a ridiculous gap between
a $1000 body like the K7 and an approximately-$10,000 medium format
camera. Hoya probably made the decision to revive the 645D because
development was so far along that didn't make sense to leave it
dormant, and the MF market seems to have started leveling out around
40-50 megapixels (they'd have had problems if they'd introduced it at
the originally-planned 18 megapixels).


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