I've had a GP2X for a couple months....
I'll do a better run down later, that said:
Emulation swiss army knife! Stuff up to about the SNES is just plain awesome. MAME is an older port, but it also rocks
Excellent homebrews., there's a pretty hardcore development community
decent mp3/movie player
The stick- now this all depends, I don't mind it much myself, but I was born and raised on the 2600, so I don't whine about stuff without D-pads. If you are are an NES-kid, you may not like the stick, but even then, its not horrible.
a new revision is coming out with a 4 key d-pad-like replacement for the stick, so you may like that better, and if the stick doesn't bother you, there should be some deals on the older version from people who 'upgrade'
There's a cradle for it with a 4 port USB hub, TV-out, etc. Many game and emulators also support USB game pad/sticks/etc. so there's that. I've brought the cradle and a couple game pads places, plugged it into a tv, and had instant console goodness.
When the new revision is available, I plan on grabbing one, seeing which I like better, and selling the other one.
Oh yeah, its runs on 2 AA batteries, which is about 4-5 hours on a set. Some people whine about that, but I have 8 rechargeable AAs, 2 in the GP2X, 2 in the pouch, and 4 charged/charging. Works awesome, and I can always play it.
Edited by poobah, Wed Sep 26, 2007 5:32 AM.