It looks as though Microsoft might be doing the Zune right this time, especially since with this release of the Zune HD the device and marketplace will be open to everyone worldwide.
A few features confirmed by Microsoft are:
-OLED 16:9 touch screen: (No need for a backlight, richer blacks, longer battery life)
-HD Radio: Don't know to much about this but apparently makes AM sound like FM and FM sound like CD on stations that support it
-Web browser
There are still more features to be announced according to Brian Seitz who is Microsoft's product marketing manager.
Image Gallery/Video:
Silver Zune:

Black Zune:

For actual product shots see this image gallery.














