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Microsoft's upcoming media player code name Argo will be called Zune. It is rumored that Zune will be a wireless console player too.

Philips has released the SA1200 DAP , a new portable audio player reports
NewLaunches.
The SA1200 is powered by a AAA battery, includes a tiny LCD screen, can play back MP3, WMA and WAV and record audio with an integrated mic. It is available now at some places for $65 or so and comes in 512MB and 1GB flavors

umm, so if you can't wait for the real Microsoft Portable Xbox, Engadget points to a PortableSystems hack to create a Portable Xbox