Elmo has four touch-sensitive spots—his foot, stomach, back and nose—and he does different things depending on where you press. Here's some of the funny things he does when you touch his nose, such as sneezing and playing the "got your nose" game:

The little red monster is at his animatronic best when he is telling a story: He sits, stands, opens his mouth and flails his arms all around. It's a shame he only has two stories to tell.

It's good to see that Elmo still raps, and his instant classic "Elmo's Gotta Get On Up" is as head-bobbing as ever—especially when he's wearing some bling from our personal collection. When you touch his back, he says all kinds of creepy lovable things like asking for hugs or to scratch his itch. In fact, Elmo can get downright clingy.

So is he worth the $60 list price—or more realistically, the hundreds of dollars you'll spend buying him on eBay when supplies run out? He's not as cuddly and interactive as previous Elmos; you mostly have to sit back after touching him and let him do his thing. Despite all that you see here, I actually grew bored of him fairly fast. Worst of all, as you can hear, his motors are as loud as his voice, which detracts from the fun in a big way.

On the flipside, most of the kids on Good Morning America went nuts for the furball. I'm no Dr. Spock, but my theory is, if you love your kids and don't want them reliving their failed childhood in psychotherapy forty years from now, you really ought to buy this thing. [Fisher-Price Elmo Live]

His moves are smooth and funky, his style reminds us of hip-hop's old school pioneers, and his biggest fan is a mad scientist.

Poor Elmo. He tries out for the Borscht Belt comedy circuit, and fails miserably. His joke falls so flat, you can even hear crickets chirping.

Here Elmo tells a "story of woe" involving a scary giant. It isn't the most engaging tale we've heard, but it gives the little red monster a chance to show off a lot of expression. Our new red-furred overlords invade Oct. 14 for $59.99. — Matt Buchanan & Benny Goldman [Fisher-Price]

Hold on to your children, my friends—looks like their gonna get another reason to dig into mommy's and daddy's pocketbooks soon. Fisher-Price, toymaker extraordinaire, is planning to release a new line of products called "Kidtronics" which should be previewed at February's International Toy Show in NYC. Now, I know we've been dealing with Furbies and toned-down kiddie electronics for years now, but Fisher-Price is really going for the gold this time, with stuff like an MP3 music player that would play digitally-recorded books and a Kid-Tough digital camera (which has the grips on the side to protect the flash port from being covered by naughty children's hands). Way to go Fisher-Price, thanks for adding some extra cash to my holiday buying list. It's not enough I have to buy my brother-in-law a new DVD player? Now I have to buy my 2-year-old a camera. Rock on.

Fisher-Price tackles electronics with KidTronics [Reuters]