This look like one of the best flash based players I have seen so far. I really like the option of being able to read text on the machine, it's nice to be able to copy long articles from the web for reading on the bus when I don't fancy watching a video. Now providing something to export websites like plucker do on the palm would be the icing on the cake.
Now at the same time the main problem I see is that being flash based it doesn't have that much capacity for video and music. The size of the screen is also quite small. The perfect PMP for me would be this but with a 30 gigs HDD (same format as the ipod), a larger screen (around 3.5 inches) and better resolution to compensate for the larger screen (480X320 or 640X480).
I don't know why most PMP manufactures don't seems to manage to get their screens right: The ipod with video's is too small, the archos are all widescreen (on the go I watch mostly 4:3 ratio content from the TV), and a lot are too low res (for me 320X240 is not enough to get a good quality picture on a 3.5' screen). Only the original zen vision seems to offer a high resolution screen but it's somewhat too expensive for me (€450, that's almost €150 more than the ipod just to get a decent screen).
For now I think I'll continue using my palm with TCPMP for video (nice 480X320 display), buy a 4 Gb SD cards on Ebay to replace my 2 Gb (well, the price have been down a lot recently, so they will probably be very affordable soon) and my 3rd gen ipod for music.