Regarding the 0.965" to 1 1/4" adapter issue, your reasoning seems to make sense, Mike.

Frankly even with 1 1/4" eps in a Baader V binoviewer, I have to rotate the eps in order to get a good merge. A good merge always seems to require some fiddling, at least in my experience. Try backing off on the set screw and rotating. Hopefully you can find the sweet spot...

I like the idea of 12mm Pentax SMC orthos binoviewed. One day I hope to try a pair of 18mm Pentax orthos myself!

Mark