if you are more concerned with all medias than it might be better to look at portable video players (pmp) like the archos av420 (a slight bit over $400) or the iriver pmp120.
the x5 screen is small and support very low resolution of video, 160xsomething and 15fps. i dont know if they come with software to convert the movie to that format.
the archos gmini i do own and know more about. it support mpeg4 and avi (divx 4 & 5). the avi must be in encoded by divx and has mp3 or wav as the sound. the max res is 640x400, 30fps. you have to get your own software to reconvert the movies if its in the wrong format. the photo feature, it can read cf card. for actual photo viewing though it sucks. the lines in the pictures are jagged and unsmooth. funny thing is when i set the photo as my wallpaper the picture become smooth as the background. for movie viewing though it play very smooth and colorful. you can connect it to tv aswell, althought the refresh rate wont be as smooth as in the player. also it cannot record video directly into the player unlike archos pmp, but thats too much to ask for something this small.
although the d-pad navigate slower than ipod touchpad, this player have excellent organization. you will have to get use to usnig two hands to control it though. there are button on the left, the middle and the right. get this if only you are atleast half concern with music listening, it has good on-the-go playlist feature. this one is more of a jack-of-all trade, its not the best with everything.