In terms of specs: 3.2-inch touchscreen (480×320), WiFi, GPS, a wide variety of audio (.mp3, .wma, .m4a (AAC), .ogg, and .flac audio) and video (.wmv, .mp4 (MPEG4 and H264 up to 720p), .avi (MPEG4 up to 720p) video) support. In a blow to Apple you’ll be glad to hear that you can sync your music over both Bluetooth and a USB cable. And thanks to the built-in GPS you should expect turn-by-turn directions. There is also a camera and microSD card slot for expansion.
You can expect the Philips GoGear to hit US and EU shores this November for $315.