In reply to:

are we talking about updateing the name from the unit or from pc based software?

On the player.

I'm pretty sure that this is in all 2.0 versions, though.

(You are in the correct menu, yes? Sound>Equaliser>(down)>Rename)
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Toby Speight
030103016 (80GB Mk2a, blue)
030102806 (0GB Mk2a, blue)