The device can play back MP3, WMA, OGG, and WAV audio (not sure if it's DRM compatible), and supports MPEG-1, MPEG-2, AVI, WMV, and ASF video. Video playback does require the bundled transcoder software. The multitalented device is compatible with JPEG and text files, includes an FM tuner and a built-in speaker, has a 17-hour audio battery life, and can be used as a voice recorder. The press release even states that this thing can play games, but we'll have to see about that when we get a review unit.
We're not sure what to think so far; the interface looks intuitive enough, but it will be competing against the likes of the Creative Zen V Plus, SanDisk's Sansa e series, and Cowon's iAudio U3. Check back soon; we're getting the device next week.