iRiver launched the USB stick style Volcano T7 DAP a week ago in Korea. Pocketables has published a review of the iRiver Volcano T7 imported from Asia.

Quote from the review: "The iriver T7 (Volcano/Stix) is an unconventional offering from a company renowned for its sleek and stylish players, but it's nice to see iriver broadening its product line to include affordable low-end devices aimed at consumers looking for a DAP to keep in their gym bag or at the office.
The T7 is unlikely to be anyone's primary media device, but with its convenient built-in USB jack, FM radio, and acceptable audio quality (including native FLAC and OGG support), it could easily be a secondary one."
Read the full review on Pocketables.