Played around with one in the Apple Store (of course they still don't have any for sale). I took my Sony MDR-V6 headphones in at a somewhat quiet time, although there were still people milling about, screaming babies, etc. 1. The sound quality is pretty good. Not amazing, but clean, and the thing puts out plenty of power to drive any headphones you have. 2. EQ settings do not appear to be supported, either for individual songs or the overall (current) EQ setting. That's a bummer. Ideally I'd say it should allow you to choose one EQ setting from a drop-down list and apply that to all the songs it syncs. 3. Volume adjustment settings for individual songs are supported. 4. Syncing is occasionally goofy: sometimes it will just sit there forever saying "Updating iPod, do not remove." and nothing happens (even when there are few or no songs to update). So you have to remove it and reinsert it. 5. Using it as a USB flash drive is occasionally goofy: sometimes it reports the wrong amount of free space after you adjust it, and I also got a few errors about not being able to copy files to it (from a Mac) because the file names were too long. Maybe this has to do with it being DOS formatted, I dunno. 6. It's not particularly fast when used as a USB flash drive for data. Copying about 700 files totaling about 250 MB over a USB2 connection, it took exactly five minutes. That's about 50 MB/min, or 833 KB/sec. Copying two large files occupying the same space was slightly faster, but not much. OK so actually it's slow. Really slow. But, for casual use it's probably fine. I forgot to test read speed. 7. The rear slider switch isn't very easy to slide accurately since it's flush with the unit and perfectly smooth. If they had embossed a little grippy pattern onto the switch it would have helped. I know, that's nitpicky, but I expect Apple to pay attention to such things. 8. I could not find any way to have it copy a complete playlist, and then randomly autofill whatever space was left over. That would have been a neat option, but fortunately that's something they could easily update in iTunes. So, it's not perfect, but I still intend to get a 1 MB version as soon as I can.