Yep, that feature has been implemented. For tracks already on the player (at the time of upgrading to 1.1) it will be necessary to run a scanning routine to work out the track length - and this is going to take quite a while for a large database. Roger was looking into an option to update the tags on a subset of tracks each time you sync, so in time the whole database would be up to date. Tracks with old tags will play fine, but you won't be able to get the time remaining display.

Rob