Yes they use the same shutter. It's also used in the MX and KM, and came from the Spotmatic IIRC.
The important thing is not to leave it cocked for weeks or months without using the camera. As it relies on spring tension for accurate shutter speeds it will go out of adjustment if the springs are held in tension for too long.
Really? I have an MX and a K1000 (and an LX.) The MX is much quieter than the K1000 (and a far superior camera IMHO, which often sells for less, at least in chrome, here in the US.)