May be, but LX7 that was $299 is much better :-)

too little too late...

More

• http://www.petapixel.com/2013/01/11/hands-on-with-the-pentax-mx-1-the-latest-horse-in-the-retro-camera-race/
• http://www.digitalcamerainfo.com/content/Pentax-MX-1-First-Impressions-Review.htm

Another review

When I first laid eyes on the MX-1, I was struck with an immediate wave of nostalgia. This is due in no small part that my very first camera was a Pentax MX, this camera’s spiritual predecessor. I was pleased with how solidly built the camera is, and never having had a camera with an LCD that can move about, I have to say that it has been a lot of fun to shoot with. It’s a very nimble and quiet machine which allows one to shoot in a very discreet manner. I have been pleased by the image quality I was able to extract from it, but I was a little (just a little) disappointed in the fact that the sensor was only a 1/1.7″ rather than something like an APS-C sized one.

http://www.thephoblographer.com/2013/05/03/review-pentax-mx-1/

Optical quality really impressed us, with nearly no loss of quality in the corners when compared to the center of images. Chromatic aberration is all but undetectable (in JPEGs at least). Movie quality is also good, with stereo audio and the option of digital or optical zoom.

It's the optical and sensor quality that impresses us most about the Pentax MX-1, making it easy to recommend to anyone looking for a good performer in a solid body. If you don't mind carrying a small camera bag or hanging the MX-1 from a neck strap, you'll be quite happy despite its difficult-to-pocket dimensions. The Pentax MX-1's high image quality and overall performance make it a very good choice for anyone looking for a straightforward image maker with a retro sensibility.

http://www.dpreview.com/reviews/pentax-mx-1