Portable Recording Studio with your iPod?

Belkin has a product coming out that looks rather good. Belkin Podcast Studio.

Belkin Podcast Studio is an advanced attachment for your iPod to add high quality recording capabilities. Dual XLR and 1/4-inch channels offer a solid range of recording options. A built-in mic and speaker are powered by their own battery, saving your iPod juice better used for listening to your genius later.

Engadget has some more pictures of it.
Seems no one knows if it has phantom power or not (probably not), and it seems to be 16 bit. Though, if you hook up a iPod Nano to it, and have 4+ gigs of free space, that would easily give you 6 hours of 16bit 44.1Khz recording.
Two potential problems. First, battery life. If it is iPod battery powered, who knows how long it will last. Plus, if it has phantom power on the XLR plugs, that would probably kill the iPod’s battery in no time. Recording on my Marantz flash recorder using phantom power pretty much kills 8 AA batteries if I record 3 hours of stuff.
Second problem, Windows formatted iPods. You can’t get, as far as I know, over 2 gigabyte files on a FAT formatted drive. I tried copying Pirates Of The Caribbean on an FAT (PC) formatted iPod that was 2.6 gigabytes in size. The iPod did not like that. Mac formatted ones didn’t complain.
So, it’s an interesting idea, especially since most everyone already has an iPod, but until we see it actually come out (June?), we can only guess.