I have one and I'm happy with it. I use it to hook up to my car stereo and when i go to work out. Advantages over my previous Nano (first gen) are the ability to get radio (I'm old fashioned) and the clip. The clip is very strong and will survive a workout, which means that you save $$$ over having to buy an accessory for portability.
I'm not a big take-a-picture-with-your-iDevice guy, so the loss of the camera was immaterial to me.
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