Originally Posted By: tanstaafl.
hardware-wise, the empeg is nothing special. It's the software that that makes it what it is, and that software required about four man-years to produce.

Yes, but those four man-years also include a lot of stuff that could be considered either "solved", or "not applicable" for an empeg-ish iOS app. I don't need FlanceDoor or a custom EQ in my player, but empeg's playlist-manipulation capabilities are still miles ahead of mobile apps.
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Would the market for such a product be enough to make it financially viable?
If I didn't have small children, I'd write one myself, just to scratch the itch. Financial viability would just be an unexpected bonus.