Gizmondo video recorder

The Inquirer scoped out the Gizmondo store in London recently (there's a Gizmondo store?) and found one interesting gadget, the Gizmondo video recorder. The £150 device (about $285) will take just about any video you can throw at it (via CF card or various video inputs) and convert it to a more Gizmondo-friendly format. Though they don't say, we have to hope that it has a hard drive of some sort to store the video, something which at least would account for that crazy price (even though it probably doesn't).