I personally like it. It is the right size for me, but for some it is way too big. It needs both hands to work it but the screen is ultra clear and the menu system is spot on.
It is built well, but the case it comes with is naff and it does scratch quite easy (but so does the ipod). The headphones are ok, but I've replaced then with some quality in-ear Sony ones.
The big down side is the transfer of musc onto the player, it's USB1 so it is quite slow, not a problem for me as you only have to do it once really. Another downside is if you are using a PC you HAVE to use Real JukeBox to get the mp3's onto the thing, which is a real pain for me, as I hate anything "Real".
There is word that the SonicBlue guys are working on some new software for the new Pearl that may work with the Riot too (I think thats right ???)
So overall I love it for the price, I paid £150UK but I beleive you can get them for approx $100 in the US so it's a bargin. Sure there is something fancy just around the corner, but it still just play's mp3's and the Riot does that really really well once the tunes are on to it.
Hope this helps.
Cris.