Toshiba has officially announced the Gigabeat T400, a $120, 4GB MP3 player that has the potential to give the iPod Nano and Creative Zen a run for their money. We'll have our full review up on CNET in the next few days, but our initial impression is that the audio and video quality are both excellent. We are pretty bummed, however, that it has a maximum capacity of just 4GB, with no room for expansion. Also, where's the Wi-Fi found in the Japanese version? Still, with a 2.4-inch QVGA screen, and support for WMV video, as well as MP3, WMA (with or without DRM), WMA Lossless, and WAV, you get a lot of player for the price.