I'm sure the new Pentax K-m is just as capable as the K200D.
Pretty sure a few seasoned Pentax users here will probably get this camera when it becomes available here as it will be the cheapest 10mp Pentax DSLR and the compact size is very appealing. It has all that features most of us would need plus focusing is said to be fast.
Unless you've tried it, I wouldn't write off the Pentax starter lenses (DA 18-55mm & DA 50-200) as they give good optical performance with excellent value. These lenses are both light and compact and offer a wide range of focal lengths without hurting the pocket. I still keep and use the DA 18-55mm kit lens and have little intention to dispose of it as at the very worse it makes for a compact and affordable wide angle. Buying DA Limited and DA*s or the FA 50mm would no doubt offer a step up in optical performance but does not in itself guarantee good pictures.
Anyway there is a K200D from a reputable Pentaxian in B&S that's looks like a great deal here.
http://www.clubsnap.com/forums/showthread.php?t=421418