It's okay, but not a great idea. A little heavy. You may want to invest in an armband or similar hands-free contraption. Don't run with it in your hand. I've dropped/kicked mine on the road and in the gym. Luckily, all turned out well. A belt clip doesn't cut it for active use. I've since bought flash-based players to use while working out.
If you're really concerned about dropping and damaging it, you may want to try a flash- based player instead. Hard drive players feel like bricks in comparison. If you have a limited budget and don't need a lot of storage and bells/whistles you could go for the Creative Zen Stone (1GB/no screen, $39.99) or Stone Plus (2GB, with small OLED screen and fm radio, $69.99). They're not perfect players (I own the Stone, not the Plus), but they're small and light - similar in size to the 2nd gen iPod Shuffle, but less expensive. I think they are perfectly fine for running and workouts.
Hard Drive-Based. Good idea?
How about on a treadmill?

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