I just took delivery on my two iRiver MP3 players ... one T30 model (1+ gig) for my business -- somewhat unique among mini-MP3 players ... due to a mini-plug input for external mic. The second unit is similar, a model T60 (2 or 4 gigs) mostly for my personal pleasure, but this has a built-in voice mic, PLUS an FM radio, which records as well. Neither has video or photo viewing -- only a small screen to ID the content. These are great little storage units ... about the size of your thumb, with plenty of digital features ... ie sound equalizer, etc.
I then shopped around for a decent set of ear buds with 'retractable' cord and noise supression. Got a really nice set from Brookstone at an airport. So, both pieces fit in my shirt pocket. The purpose of both is ultra-portability -- The T60 is mostly for trips (rather than using the PDA or cellphone) -- I have stored plenty of my favorite music for exercise workouts, and just sitting around on planes, etc. -- including recorded talk shows .... all recorded from the FM radio. The T30 unit uses a mini-plug for a mic, and is a common trick used by videographers ... just drop the unit anywhere near a speaker, podium or music, and pick up a wild sound track, while still using a camera mic or wireless in other areas. It's a great way to get background, or a safety track for sound from 2nd sources, like weddings, receptions, etc. Normally, I use wireless mics to the camera, but sometimes I run into surprise issues -- so dropping a small mic anywhere is great insurance and sometimes better video (ie -- a piano player at a reception is nice background). I also use a Marantz portable digital audio recorder with XLR stereo inputs and a flash card -- it has better controls and quality, but is also larger (apx. 8 x 5 x 2). The iRiver units are small, fast, and cheap. Just synch up the audio with the video in post. The units plug in to the PC like an external drive .. so just move the file over to the PC editing suite.