It's only got 2GB of internal memory, but that's enough for a couple of audiobooks for your kiddywinks. It connects to PCs via USB, and has a pretty decent 14-hour battery life. Unfortunately only Japanese pricing and availability details have been announced so far, but with any luck the western world will see a May/June release as well—though I'd like to see a cheaper price-tag than $53, which is what the 4,980 Yen price converts to currently. [Green House via Akihabara News]
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The site makes it look like it's officially licensed, but the Miffy site makes no mention of it.