I have used these settings for the K1EL-keyer to emulate the K2:
Ratio 45, Weight 65, Sample 35. They work quite OK. They have been taken from here:
http://www.mail-archive.com/[email protected]/msg46771.html
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LA3ZA
Unofficial Guide to K2 Modifications http://www.qslnet.de/member/la3za/K2/mod.html