Well, 1.04 has been released.

New function added:
Files list is showed when pressing '>' in [now playing].

Bugs Fix on:
1) ...freeze when turn on.
2) ...WMV unable to play in MTP mode.
3) ...discontinuing sound during playback if font is changed
4) ...discontinuing recording during video playback in preview mode.
5) ...menu error after MTP-MCS switch
6) ...unable to change title and font after certain situation.
7) ...possible error if WMV playback resumed.
8) ...unable to play video that transcoded by iriver plus 3.

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Update detail added

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Oh well, might as well ask again: Can it play high resolution xvid without transcoding now?