ePhotozine has published a new review on the Pentax Q10. This reviewer has give the Q10 4/5 stars which is quite decent. Usually, the Q10 gets bashed for having an image quality no better than an average comact (by today’s standard) because it uses 1/2.3-inch sensor – this is smaller than 1/1.7-inch sensor used by high-end compacts like Canon S110, G15, Nikon P7700, Panasonic LX5, LX7, etc. Models like Sony RX100, Fuji X10 and XF1 are even larger. What the reviewer appears to like is the build and the size of the camera. If you really need a compact with a lens switching option, go for it. Personally, I would go with the low-end m43 model, such as Olympus E-PL5 or E-PM2 and get small lenses for it, perhaps Panasonic 14-42mm X, Panasonic 20mm f1.7, etc. This combo provides much better image quality while being compact and also provides much better options for the future.
Their conclusion: The Pentax Q10 has a good set of features and has extremely solid, well-built body. Clearly a lot of thought has gone into its design and it’s one of the best looking Pentax cameras you’re likely to find, particularly in red! Unfortunately image quality isn’t fantastic, about as good as you’ll find on an average compact camera, but colour reproduction is good. If you are interested in a mirrorless camera with improved image quality you’d be better looking at those with larger sensors.
If you’re keen on keeping size down but want the luxury of being able to change to different lenses, the Q10 is a good option, particularly as it’s less than £400 and there are a decent number of lenses available including the 15-45mm lens which is a 35mm equivalent of 83-249mm. If you already have a number of K mount lenses for your Pentax SLR, you can purchase the Q for K mount adapter and use those lenses (Pentax say this will give a range of 215 extra lenses) on the Q10, which extends their focal length by roughly 5.5x.