A Be It All MP3 Player (No, Its Not iPod)
The MP3 player that I was looking for to buy needed to be 1⁄2 of the size of iPod, built-in FM transmitter (yes, you read it right), built-in FM radio, capability to directly record FM radio in to MP3 files, voice recording, equalizer presets, digital bass and treble controls, HDSS or virtual 3D mode, line-in input and should instantly act as USB drive without requiring drivers. Of course, it should have 512 MB or more memory.
Does this thing really exist?
It turns out it does. There are manufacturers in UK, Korea and Japan who sell these in their countries - but for strange reason no one is making anything like this in USA. However, there are some obscure sellers who sell these foreign products on eBay. One that had everything above and more for $179 is Enox TMS-620 available at Sun-Tec.
Especially FM transmitter is pretty handy. It’s like carrying your own FM radio station in that 1⁄2 of iPod size thing. Of course, the best use is that you can play your MP3s in any car. If you wish you can hijack FM radio being played at restaurants too! My current usage is though listening to Dot Net Rocks, while looking at weird ads on New York subways :).