It appears the firmware now does AM. From the latest firmware release notes:
----
Current K3 Firmware Revisions
Last Release: Dec 14, 2007
MCU: V 1.49 DSP: V 1.46
*
Noise Reduction significantly improved. Also, NR can be used
with narrow filters in CW mode.
*
AM mode added. (6 kHz Filter required.)
NOTE: Power control temporarily works as follows: when you set
power to 100 W in AM mode, it means 100 W *peak power*, and 25 W
*carrier power*. Also, the bar graph shows peak power in AM mode.
This will be corrected later so the display and bar graph both show
carrier power.
*
Manual notch frequency defaults to 2 kHz (originally 200 Hz).
See 'Release Notes' in the K3 Update Utility for a complete revision history.
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