I got mine this morning. I played with it for half an hour.
Very easy to use and set up.
It comes with 32MB internal flash, expandable to 96MB(you can use 64MB external CF card), uses 2 AAA batteries. The sound quality is ok. It can play "mp3" or "DVR" format files. You can choose equalizer mode from "flat", "classic", "rock", "jazz", "metal". Also comes with digital-tuned voice control.
The voice recorder quality is very limited. I doubte this will work, if I use this at a big room, for eg, in the classroom. But will be fine, if you just record in front of your mouth.
If the reviewers in Amazon.com spent $30 for this player, they might give higher mark.
No complain for this price.
One concern is I transfered 7 files to the player. They were lost once, after I turned off the player. Only once. Don't know why.
I can't remember where I read now, somebody said can use 128MB SM card with this player.