Currently, the settings can be accessed from the the "Edit" menu (like Gnome), while most KDE apps' settings have their own top-level menu in the menu bar. It would be nice if that could be changed to make KDE more consistent. I know inconsistency does not make anything unusable, it just introduces inefficiency when things aren't where you expect them, therefore making the overall experience worse.
A top-level menu for Settings could also contain a button to change keyboard shortcuts (like most other KDE apps). As far as I know, there is currently no way to configure custom shortcuts. I can open a new feature request for this if you want.
Which version does this affect?
I'm currently using 3.1.0 and see no changes since I initially reported this.