It has great sound quality, but has some annoyances. No support for mp3 files at low bitrates or low sampling rates(which some podcasts and lectures are at, so they would need to be converted first to be playable). it doesn't have the resume feuture the Sandisk players have for audiobooks and podcasts.It has a proprietary connector and cable. It doesn't have a card slot. On the plus side, it has very long battery life(over 40 hours?).
If you want a music only player and don't mind the proprietary connector, lack of a card slot, and having only 16GB then go for it. If you listen to podcasts, audiobooks, or want to be able to add a cheap 32GB card, then get a Sandisk Clip+ or Clip Zip. These Clip players have only around 12 hours of battery life though, and some people get a small usb battery pack if they want more than 12 hours of play time. A 2GB Clip+ and a 32GB micro SDHC card gives a nice 34GB player for around $60 vs $110 for the 16GB Sony E465(US pricing). Getting more than double the storage in a player for around half the price sounds like a better deal to me!