Priced at $550, and weighing 1.4 lbs, this device with a brushed aluminum finish is almost in a different class than the much cheaper, and lighter iPod video. However, its selling points are its large, bright 7" TFT touchscreen display with a native resolution of 800x480, and its comprehensive media playback. For video, this player supports MPEG-2, MPEG-4, WMV, H.264, VOB (with an additional plugin), but is not compatible with iTunes.
The Archos 704 can function as a video recorder with an additional DVR kit to record live TV. Expect around 4 hrs of battery life on video playback.
Generation 5 Archos players were released on August 30th, 2007 including the Archos 605 WiFi.
Consider the newly released Apple iPod Touch ($299).