Got one of these about a year ago ($50 AR at BB) but replaced it with a Samsung Techno Yepp b/c of the limited space and the cost/availability of MMC cards. Its a good player though, great for the gym, but capacity/interchangeability is lacking for more heavy duty listening experiences.
Phillips makes essentially the same unit nowadays for Nike, and I believe it costs at least 2x as much, so I'm thinking its a good deal. These things are sleek and sturdy, so I'm not quite sure what they needed to refurbish on them. They don't have any moving parts, so I think its a pretty safe bet. There's also a firmware update somewhere that gives the remote the ability to display remaining battery life.
Chiz