Here's the new iPod nano. The paint is less matte, more shiny. The corners seem less sharp (a previous complaint of mine). But physically, it's about the same. The differences are inside.
The camera hole is on the bottom left of the face, so you end up putting your fingers over the lens and mic a lot if you're right handed. Slightly annoying.
The video recording is a capable 640x480, and there are 16 or so video effects you can overlay in real time onto your video. There's no zooming or editing, so this is barebones, but for quick video that you can take when you need it, it's pretty decent. Note: It does not take still photos.
Its pedometer functionality works as you'd expect. Same with the voice recorder—they're both straightforward, and the voice recorder is basically the same one you've seen on the iPhone.
The FM radio has the same problem that small devices have with radio in that you need to have your headphones in to get reception. Not a huge deal with the nano, since you're going to always have your headphones in anyway. But we didn't get a chance to test FM reception since there were no headphones available.
All in all it feels exactly like the old nano, except with new features—which is the point. So yeah, the polished/glossy finish looks very nice, and the new features like voiceover are useful if you're into that.