It is generally believed that this is the native Prime M processor which is originally designed and manufactured by Fujitsu for Pentax:-
http://jp.fujitsu.com/group/fsl/en/release/20110208.html
The MB91696 has a dual-ARM core and has built-in H.264 codec that supports Full HD video. In fact, it has an all-round/all-in-one system architecture for what a modern digital camera needs:-
(Credit: Fujitsu Semiconductor Pacific Asia)
Note that it has all the I/O interfaces and drivers/controllers for all the standard peripherals as shown in the above.
Besides, it has a maximum image processing frequency at 216MHz according to this published summary datasheet which means a maximum of 8 fps at 14MP or 5.5 fps at 20MP as told in the marketing information (which should be 7.7 and 5.4 fps respectively, to be exact).
So, let me further calculate the maximum frame rates for a 16MP or a 24MP sensor then, which is equal to 6.75 frames per second and 4.5 fps respectively, at most. The 6.75 fps figure tallies well with the 7 fps continuous shooting rate of the K-5 actually.
And, shall we see a Prime M II or a Prime III processor in the near future then? Possibly not I suppose, just see the roadmap as published by Fujitsu for the last time:-
(Credit: Fujitsu Semiconductor Pacific Asia)
It it noted that the 7th generation of the Milbeaut image processor has not yet been out and it is not found at any of the official Fujitsu pages.
Anyway, we shall see the new K-5 very soon, just wait for the first week of September, something may come.
Read Also:-
The Secrets of the K10D (Part 3 of 3) – The Brain: The IPU
The Maker of the "ADC" and "IPU" Chips used in K10D