hey mate. i see we use the same phones - atrio m5. they are a blessing as they sound wonderful and are not as hissy as other iems on the market.
i will suggest ( i have not read more than the 1st page of this thread as it is far past my bedtime ) the meizu m6. it is excellent sounding player though i have not used it for months now. it is small (a little bigger than the ipod nano) and has a nice screen that is great though not perfect for movies.
it is a no frills sound unlike what is mentioned earlier by some, the d2. the d2 is all about sound effects and how you can distort your music while still sounding like the same artist created it. the only problem with meizu is that maybe artwork is not supported.
i used itunes with it (8gb) and just copied the songs i wanted directly from itunes via drag and drop to the meizu music folder. i never used any sort of soft that came with the meizu. eventually however, the only problem that i found was that is hissed like iriver players. though the sound quality was amazing with large headphones that are not too sensitive, iems sounded good but hissed.
even atrio hiss with meizu. i think if you are interested in no frills sound, please consider this baby. it is quite hifi oriented with great eq that does not rely on wow or srs or jet super thunder effect. it is plain and usable like a home hifi with a few extras.
i have the cowon d2 as well and while that has a powerful and relatively quiet amp, it is too tailored and too littl like the original cd form a nice source. the sound is good if you like processed.
that said, i like the sound of modern ipods so that shows you that i like a more neutral sound free of processing and extra imaging. thus,,, meizu is a great choice. cheers.
EDIT: i want to say for the record that i like the idea of the d2, but in the end it fell short of every expectation i have had. it is too bright, too processed and too big for its capacity. my pocket is overloaded with it. its output from mp3 versus wav or flac is quite different as well. i am sorry, i cannot find the link to the testing... i am lame.
it sounds good but... it is very much like the girl from next door who is fat but has a good make up job. the player is huge compared to anything else and it is for the battery i guess but... many people suffer from nowhere near the spec'd battery life of 52 hours. i have never had more than 33 hours and usually get in between 24 and 30. overall, it is a great piece of advertisement that i think does not live up to any hype whatsoever. the recording is very noisy and fm radio is bad. it only records in wma versus meizu mp3 etc etc etc.
if you want it, go ahead, it is not bad, but by far not the be all end all of small portable players. i would place it in the misplaced department.