Our inboxes are on fire with brand new information about the new Microsoft MP3 player. We thought the MP3 player was code-named "Argo", but we now got word that the final product name that's been flying around is the "Zune"!

The pic on the right seems to be the final design, which makes the MP3 player very clean—a definite departure from Microsoft's other endeavors. You all remember the video Microsoft's own people made to illustrate their packaging shortcomings? Well, it seems like they haven't learned much, as our tipster tells us the packaging itself is pretty ugly.

Our mole also says there's no game menu to be seen on the Microsoft MP3 player, putting those rumors of portable gaming from Xbox branding in possible jeopardy. More game options possibly coming in the 2nd iteration.

There's also mention of a black version of the Zune, being shown on a music video for the band CSS, and the brown version on the cover for "Band of Horses". You can display Album covers for the song you're listening to on the screen, which is "big enough" and looks "pretty good". Paul Oakenfold also has a tie-in deal.

From the looks of things, the MP3 player Zune will definitely be ready for a Xmas release.

We'll have more information plus possibly the logo and/or UI Shots tomorrow. Stay tuned! – Jason Chen

Thanks Tipster!