Pocket-sized RAM based digital live audio recorders: Where are they?

Lately, I've been scouring the web searching for a pocket sized high-quality
solid-state digital audio recorder with microphone inputs.  There isn't much
out there.  The only thing I came up with is the Panasonic SV-SR100, which
is close, except it's not pocket sized. The TASCAM Pocket Studio 5 is
interesting; but it has many features that I don't need nor want, it's quite
bulky, and I've heard the build quality isn't great.

Here are my ideal specs for such a unit:

- Stereo mic inputs (portable DAT quality)
- Headphone and line level stereo outputs
- SPDIF digital I/O
- Built-in cardioid electret stereo mics
- MP3, WMA, AAC and PCM recording
- 16-bit, variable < 96khz sampling
- Manual record levels (metal knob)
- One-handed operation
- 256MB internal Flash RAM
- Type II Compact Flash slot (Micro Drive ready)
- SD/MMC Flash RAM slot
- 5 minute pre-recording buffer (constantly sampling)
- Li-Ion battery, replaceable, 10 hrs record time
- USB 2.0 (mounts as generic storage drive)
- OLED display panel
- Flash-programmable open firmware
- No SCMS digital copy restriction
- Size of a deck of cards
- Priced around $400 retail

This is completely feasible for the price range that I've specified.  There
would be no moving parts to engineer. Case design would be simple. The input
circuitry, encoding chips, LCD displays and firmware OS required are being
used in existing products such as portable MiniDisc recorders, Panasonic
SV-SR100, Neuros, Archos, Rio III, etc. The only thing missing from existing
solid-state portable recorders is an integrated portable-DAT-quality mic
preamp. That's all that is needed for 99.9% of prosumer use.
I sketched out plans for such a beastie about 8 years ago, when flash RAM
was still quite expensive, and portable DAT decks ruled the live recording
landscape. I really expected to see something like this on the market (from
Sony or Panasonic) before 2000. Panasonic did figure it out; but they
deferred to consumer demand for CD ripping and made the SV-SR100 bulky, with
a CD player attached, which is not OK.  This thing has to be pocket sized
and stealthy.

The built-in cardioid electret mics could be omitted to keep the price down;
but they would be very useful in impromptu real-world recording
applications, when carrying external mics is not feasible. The important
thing is to make this a standalone, take-it-anywhere, stealthy, high-quality
sound sampler and music recorder with long battery life and bombproof
ruggedness. The market for such a device is huge, since it's far less
cumbersome than the DAT decks of old (while exceeding their functionality),
and far less mechanically fragile than MiniDisc recorders; and would appeal
to the users of both.  It would quickly become the journalists' weapon of
choice for field recordings of all types. This is a recorder that could
endure high heat, humidity and mechanical shock without failing. It's very
much needed, and would sell very well.

So, why isn't this product available right now? Am I going to have to start
a company and design/prototype this thing, and then sell the design to some
big Japanese company to produce it? I need such a device to record long
samples of ambient soundscapes for incorporation into music compositions. I
want it to carry it with me at all times, because I never know when that
perfect soundscape will present itself.

Barry Sanders