LG's touchscreen video player does look cool (and a bit like the co-branded VW one we saw last month), but who's going to know how to pronounce MFFM? People will think you're talking with your mouth full when you're trying to tell them about the 320x240 2.4-inch LCD, the 4GB memory, MP3/WMA/OGG/MPEG4/WMV9 playback, and the 90mm x 51.5mm x 9.9 mm dimensions. Good thing you called it the "Touch Me", which is marginally better than MFFM. Unless MFFM stands for the type of party that Fleshbot's familiar with, in which case we change our minds completely.
We're not sure how well this compares to say, the imaginary touchscreen iPod or even the iPhone, but it looks more in line with the Prada than anything else. Maybe if they combined the Prada and this into one package they'd be competitive after all.