First off: I am hardly a professional photographer,but I have been taking pictures for 45 years. So my review will not be full of technical stuff.
I gave up film cameras quite a while ago.My first digicam was a whopping 1.3mps,which I thought was astounding.I gradually progressed up to the point where I have this little gem,all 12MP's of it. I am using it as a replacement for a small,but hard-working Nikon P&S.Not a replacement,more of an addition...but I didn't want to carry a really expensive camera on my motorcycle,or when I take the menagerie to the dog park,so I use the Nikon for those things,and this Pentax for everything else.
It takes wonderful photos.It's very intuitive,and if you have ever used a typical P&S camera,you will catch up to this one in a few shoots.It takes good shots in any kind of outdoor lighting,and indoors as well.The clarity of each shot is great.Close-ups of my animals are especially good.I can see every whisker and the evil glistening in their eyes as they plot yet another way to create havoc in my house.I took one of my parrot,who hates cameras,and the "pinning" of his eyes was caught in all its maniacal glory.
I am going to use this tiny thing for a long time.It is extremely tiny,but that makes it more useable.Pocket-size is great for a P&S.I haven't noticed any unusual color problems.
All in all,it's a great camera,and I am quite happy with my purchase.