As dapreview points out, this just-announced Cowon N3 looks quite like the Cowon Q5W we reviewed a few weeks ago. The most noticeable difference comes from the fact that this has a 7-inch screen as opposed to the Q5's 5-incher. Other than that, there's no internal memory—you have to use one of two SDHC slots to add storage—and GPS and DMB (portable TV) support. The good news is that this does support DivX/XviD and all the other video and audio codecs the Q5W does, meaning that you'll never have to go a second without entertainment. Ever. [Dapreview]
I actually prefer devices that do not have onboard memory, as it does allow for a cheaper product upfront, and gives more expandability in the future. I wish my nano had an expansion port.
On a side note, are devices like this really used by people? I have my laptop and phone with me most of the time, and I cannot see needing this. Anyone who uses one can set me straight, because if it is useful, and not just a novelty, I will be more than happy to buy one.