I think there is some good info on the answers on this page (be sure
to click the "4 more answers" link:
http://photo.stackexchange.com/questions/22758/how-do-digital-sensors-that-capture-one-color-at-each-photosite-compare-to-senso

I think the most interesting comment on the above page is the following:
QUOTE:
 What you actually want is to cram so many megapixels in the sensor
that you can do away with the AA filter, and bin different coloured
pixels together if necessary to get Foveon style dense colour
sampling, but without the low light penalty or huge cost. With 24MP
crop sensors arriving that day is close!
CLOSE QUOTE:

I have never seen those two things connected before (cramming
megapixels previously considered a bad thing, as far as noise is
concerned). That seems to be part of what Pentax has made work on the
Q. The pixel pitch is incredibly small, but they have been able to
eliminate the AA filter. That also seems to be the direction that
Nikon has gone with the D800E. They've gone to way more megapixels
than Canon, but that has allowed them to eliminate the AA filter. I
would imagine that this approach means that you are giving up some
high ISO performance, so you have to pick your priorities, or have
different cameras for different priorities.

Related to the bit depth discussion, I also found this interesting:

QUOTE:
Since 12-bit data has 4,096 tonal levels and 14-bit data has 16,384
tonal levels, one might expect to see smoother tonal transitions and
less possibility of posterization with 14-bit capture, both of which
would result in higher image quality. However, this is currently not
the case for most 14-bit cameras due to the fact that digital noise
overwhelms the extra bit depth. Slicing the data more finely than the
level of noise means that the extra bit depth doesn't contribute to
image quality.

Another factor that keeps us from realizing extra image quality from a
14-bit sensor as opposed to a 12-bit sensor is that most current DSLR
cameras have less than 12 stops of dynamic range. Unfortunately, this
makes the extra bit depth superfluous data. There are some exceptions.
Fuji cameras employ two sets of pixels of differing sensitivity that
allow for spanning more than 13 stops, so 14-bit depth is useful in
that case. The latest Sony sensors, used in Nikon,
Pentax
and Sony cameras, have very low noise levels and high dynamic range
and so are close to being able to generate genuinely useful 14-bit
data.

As sensor technology continues to evolve, lower noise levels and
greater dynamic range promise to make high bit depth capture a useful
feature in future cameras.
CLOSE QUOTE

Source: http://dpbestflow.org/camera/sensor

It is worth noting that Dx0Mark has the K-5 with a Dynamic Range of
14.1 EVs. The K-01 (also 16MP but 12 bit, not 14) has a Dynamic Range
of only 12.9 EVs (a significant difference, IMHO).

Back to the Foveon... Dx0Mark does not even evaluate them saying (in
Sept. 2010): "We would love to add cameras featuring Foveon sensors
such as SD14/15, however the specific sensor structure and file format
requires some changes on the site to enable fair comparison with
Bayer-type sensors. We may then consider doing it at some point but
unfortunately we can't give any date." Source:
http://forum-test.dxomark.com/index.php?topic=296.0

And SD14 owner made some measurements and comparisons, which you can
see in the final comment on this page:
http://forum-test.dxomark.com/index.php?topic=296.0

His comments also address the color noise problem apparently inherent
to the Foveon design. Between that problem and the apparently
increased costs associated with producing Foveon sensors, I think they
will be limited to Sigmas only and be a niche product for people who
only want to work at low ISOs.

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