Con: no retrieving music from player

Actually, you can very easially. The Music folder is simply a hidden one. Nothing beyond that preventing music from being copied off.

I'm picking up an iPod here soon, due to many of the pros above.

And one other pro, it's a firewire hard drive. I'll probably toss a firewire card in my machine at work, and then have quick file transfers between work, and my home PC and Mac.