I just purchased the MPM 201 a few weeks ago over at NewEgg.
Before I mention the cons I would like to mention that I really like it and here's why. It replaces the laptop I used to take on travel with me. It plugs into my van for movie playback on the LCD screens for the kids. It provides the wife and I many hours of entertainment with MP3 playback, Movies, and recorded TV. The docking station with remote is one sweet feature and the dock now travels with us at all times. It allows me to transfer my photos from my digital camera to the HD in little time then view them whenever we want. The extra batteries were cheap ($5.00 each) It does not care about encryption, regions, etc., you can plug any video and audio souce into it and record.
Now the cons.
I took some time to organize my MP3's the way I wanted because the MPM does not support play lists. Not a big deal, I just had to organize in folders.
DivX only... I have my DVD's backed up in VOB format, no compression. In order to use the MPM I have to convert movies to DivX which takes approximately 3 hours to do per movie. I found a software package ($$) to do this which makes life so much easier. Each movie compressed to around 900mb-1gb seems to work well since it's just for portable playback or playback on a smaller screen (36" max).
The interface is very basic. Much like the old windows file manager which can be confusing at times when you have to copy or rename files with the MPM.
There is no support for the MPM. Evidently the parent company NHJ Japan filed for bankruptcy last year and that may be why the MPM is selling so cheap now. There is no firware to find, no support to be found. There is a clone of the MPM called the Pavio (search google) but I have not found any firware there either. So you will be stuck with the interface and features unless someone crafty enough finds a way to modify the original firware files.
Anyone interested can join the Yahoo group nhj_mpm_201_202 and there are discussions about the 201 and 202 along with some helpful information on extra batteries, links, etc..
Although it has flaws it is actually a very useful piece of equipment for me and my family, and for the price compared to the iPod Video, Zen, or Archos it has features that would be hard to beat.