As reported Toshiba has presented a new interesting portable media center player dubbed Gigabeat S at the CES 2006.

Toshiba itself did not actually promote the player itself. Microsoft and FreeScale provided the most information about this new sleek Gigabeat.
Microsoft has published some detailed specifications of this compact video and audio player.
The Toshiba Gigabeat S comes in either 30GB or 60GB configuration. It features a 2.4 inch color screen with QVGA resolution. The Gigabeat S supports downloading of recorded TV shows from TiVo Series2. This portable media center will of course also work with the Microsoft Xbox 360 media functions and Media Center PCs.

Other features include a 20 hour battery life for audio and 5 hours for video playback, FM Tuner, TV-Out and .wmv, .wav, JPEG, and MP3 file format support. The Toshiba Gigabeat S will be available in Spring 2006 in the US. It will be available in Metallic Blue, Piano Black, and Piano White.
Price for the 30GB version is supposed to be $299 and $399 for the 60GB version.
These are comparable prices to the Apple iPod Video. This is definitely the hottest Toshiba Gigabeat player yet.

There is no information on the size yet, but the Gigabeat S is small as this Engadget Video report from the CES shows. See also the Gigabeat S page on Microsoft.