M-Audio had a very intriguing product on display at MusikMesse that seemed to slip by almost everyone except Sonic State. The 'Flash Tracker' is a pocket-sized recorder designed for audio, with a ton of digital and analog inputs and outputs, all recording to CompactFlash cards at rates up to 24-bit/96KHz (that's 'music-grade,' for lack of a better term). The Flash Tracker even has powered (phantom and active) jacks for microphones. Suffice it to say, if you're a musician looking for a cheap, live recording tool, it's one to keep an eye on—especially since M-Audio products (and CompactFlash, come to mention it) tend to be very affordable.
And if it just happened to play MP3 that'd be even cooler.