Not sure how long this has been floating around on their website by now... But South-Korean Maxian, probably best-known for their MP-2220 (which was later rebranded into the MobiBlu MPMP-100... even later on redubbed "DVH-100" !nut), seems to be up to something here. Their upcoming (20/30GB-heavy) MP2820 has the small form factor of, say, an Archos Gmini400/402. At 100 x 62 x 24mm, this thing is a bit chunky yet extremely portable (G402: 106 x 63 x 174mm). Lightweight enough as well - 165 grams (Archos Gmini402: 180 grams). Furthermore, there's a 2.8-inch TFT LCD with a resolution of 320 x 240 (qVGA), able to display 262k colors (G402: 2.2" TFT LCD 220x176 pixels, 262k colors).

Supposedly, the MP2820 supports MPEG1, MPEG2, MPEG4, XviD, DivX 3.xx ~ 5.xx and AVI at a maximum resolution of 720 x 480 pixels. Also included is a 1.3MP camera, MP3, WMA & WAV support plus the ability to show JPEG and BMP pictures.

On top of all of this, there's USB-Host (1.1 speed, sadly), FM radio, line-in encoder for audio and a voice recorder. The Lithium-Polymer battery (2400mA) makes the MP2820 go on for about 6 hours when playing video - pretty good! When listening to audio, battery life is said to be 14 hours per charge.

Even seems to support video recording at DVD quality (640x480)? Could be wrong on that one, though. One thing's certain - it does have video-out (composite).

LINK.

Note that maxian's also developing an Archos AV500-like thing called the "MP400W" and a DMB-compatible unit called "DMB5000".