Works really well
I used my SwiMP3 player for the 1st time today, and it works amazingly well in the water... it turns the inside of my skull into an amphitheater! Be aware that button-press duration is a key to working the device; if it's not doing what you think it should, try holding the button(s) down until it does. Also, the clips look like they might be a weak point--the included case is just large enough for goggles as well, so you might not want to clip/unclip it more than absolutely necessary.

End your swimming bordom!
I have recently taken up swimming for weight loss. I am an average swimmer that has become very bored swimming. I read just about all of the reviews on water proof MP3 and decided on Finis SwiMP3. The price was competitive with the rest of the units. The other product reviews swayed me to buy this, because it was not a bulky unit, was designed for swimming, and it had no earphones to worry about. When I first got it it took about 10 times for my computer to reconize the USB connection. If Finis's enginnering dept would fix this, then it would have gotten 5 stars. Please fix this. After my computer finally reconized it loading songs was easy! The other draw back is the unit has no bass. It sounds like an AM radio under water. The technology is almost there! I would recommend this to any swimmer looking to extend there time in the water.

Great--now we need an iPod dongle
Others have also pointed out the flaws: fragile-looking cord between the earphones, when they say "compatible with iTunes" they mean "this product is not compatible with iTunes most of the time".
That being said, if you download music from Amazon instead(:-), or save your CDs to iTunes in mp3, you can indeed simply drag-and-drop them into the memory of this great music player. Out of the water, so-so, but in the water, compared to earplug-style swimming music players--fantastic! And something that does indeed keep you swimming for several laps more until the song finishes...
What really needs to be added is, I think, some kind of waterproof connect-o-container that includes an electronic component in the form of a dongle to override the internal mp3 player, and allow people with iPods to connect their tunes up to these headphones directly, strap the iPod to their arm or waist, and go for a swim with the option of changing songs or playlists using a graphic interface. Beyond that, for what they charge, they could also offer some kind of way (silicon? waterproof miracle clay?) to mold the business ends of this device more closely to the shape of one's cheeks.

Decent player but some problems
I bought this player a couple of months ago. It works well mostly, though the controls are a bit hard to use especially since volume and prev / next options use the same buttons. the biggest problem i faced so far is water leakage into the unit through the USB connector. this causes the battery to discharge very quickly. On the brighter side, at least the unit hasnt failed.

I love this mp3 player
This is my 2nd one I bought. I thought I had lost the 1st one and found it...now I have 2...I love it...I had trouble with it and sent it back and the company sent me a new one. I have actually never used this one....I swim 5 times a week and use it every time I swim....I have been using it for a year.....best gift for myself......Enjoy