This would have excited me about 6 months ago, but given how things have gone with the Zune HD, and that Microsoft has pretty much moved on to Windows Phone, it's not as interesting as it should be. But it looks like Microsoft is set to release a 64 GB version of the Zune HD, to accompany the existing 16- and 32 GB versions. I wish I had had this option back in September 09. (Just as I now wish that the iPad lineup started with 64 GB of storage and went up from there.)
You can see a link to this new model on the Zune HD web site. But you when you click on it, you get a "Page not found" error.