Okay...some initial thoughts....
Gear used-
grado sr-60/rs-1
sharp md-33
sr-71
The navigation is almost identical to the iriver h1xx series. The picture makes it look like there is a 4-way rocker switch around the center button. This is not the case. It is a joystick exactly like the iriver's.
price paid, $169 + shipping
Size:
This thing is REALLY small. I actually don't think I would want a player any smaller than this. Here are some pics
Build Quality:
It's metal....except for the screen. Seems solid enough. Only complaint here is the neck strap attachment. It's basically a little hook that free slides in and out of the top of the unit. Kinda hoaky and has the feel of a piece of cheap jewelry.
Navigation:
If you are familiar with the iriver...you will take to this like a duck to water. It's very intuitive and quick. The screen looks really good. No complaints here.
Sound:
The headphone out only has about 60% of the power of the H120's. It can power the md-33's really well. The sr-60's not so well. I can crank the volume to 40 (max) and it's pretty loud....but there is some clipping issues in the high and low freqs. This seems to be a universal problem as it also clips with the md-33's. I didn't even bother to unwrap the stock buds. The sound quality isn't quite up to snuff with the h120 either. It is no where near as transparent as the h120. The preset EQ settings are pretty drastic and useless like most other dap. The user EQ (7-band) is a nice touch and is a lot more useful than the presets. I tried using this as a source for the sr-71 > rs-1 for sh!ts and giggles. I have to max out the volume on the YP and turn the knob on the sr-71 past 12 o'clock to get it rocking. (too loud for most people)
Functions:
Haven't tried most of the stuff yet...but one thing I thought was kinda cool was the ability to program the FM record to start/stop at a certain time. (no more missing Stern). I did try to load one pic...it was pretty big ~1mb, it took forever and looked pretty shotty.
Conclusion:
This really isn't up to par with "headfi" standards as far as sound quality goes, this is where I assume most of you will stop reading. But for the rest of the people still here...this would make a great little (and I stress little) player for a jog or the gym. The extra picture/text viewer features will probably never be used on 95% of these units...but I guess some people just like to have the option. Even though it's $20 more than the 1gb Apple Shuffle I would still take the Samsung any day of the week for the following reasons:
True drag&drop
a SCREEN (color at that)
it's smaller
FM radio
P.S.- I am only comparing the sound quality to the h120 (which I find to be exceptional) so I may be a little tough on the YP...I guarantee my fiance will think this thing is the proverbial "bee's knees".