i don't know if mp3 players will be migrating to CF anytime soon. isn't the format considerably larger then smartmedia ?
if anything, they're going propriortory, the rio 600, the iomegas. everyone's trying to get a jump on the competition with something smaller with more capacity.
the main difference between MD and mp3 i think is their targeted usage. i can bring my nomad iic with me on the slopes and easily change tracks and manipulate it even through my gloves, and it's small and light enough so that it'll take a beating and get away with some mere scratches, and _never_ skip on me. i'd rather not carry minidiscs with me up there either, nor when i'm running. mp3 players are definitely geared toward athletic and mobile usage, MDs annhillate the walkman market though (walking on campus, to the park, etc).
aihyah- have you thought about the nomad iic? i've been pointing this one out a lot it seems, you can get it from amazon for around $90 shipped, and a viking 128mb smartmedia for $75, coming to about $165 for a 160mb mp3 player. small, light, easy to manipulate, awesome sound quality, and _awesome_ amount of space, with the usb connectivity. if you want to carry around another 128mb smartmedia that's all well and good, too.