You gotta hand it to Meizu for taking the iPod look and grafting it onto an otherwise plain PMP. Some of the things they stole: The white/black finish, the grey control area, the metallic backing, the hold switch, and the iPod-like navigation system.
Nonetheless, this PMP comes with up to 4GB of memory, a 2.4" screen, a microphone plug for voice recording, FM support of some kind, USB support and MP3/WAV/OGG/WMA for audio, and Xvid for video. It has 20 hours of battery life for audio and 6 for video. Lots of features in a little package.
A separate case is available for $36. No word yet on pricing.