Just got my Studio V 3rd aniv a day or so ago and so far so good. Like the form factor. Will be nice for road trips and at the office. Menu is easy to navigate. Even found the manual useful (could have had bigger print for my old eyes) but I could read it. Have tested out a few different file formats and it seems like them all (mp3, wav, flac). I followed the recommendations here for the tags and such.
Will be testing a 64 gig card full as soon as I fill it. Put music on the internal storage and it functiosn fine.
Sound is also very good. We will see if I can live with out the EQ functiosn I am used to on other devices. But, so far it is OK. Drives my HD650 fine. Will be testing it with my x10's, 325i's and HM50 this weekend.