iRiver today announced the unveiling of its iFP-599T, “the most feature rich and largest capacity flash-based memory player on the market.” The iFP-599T comes standard with 1 GB of internal memory and offers consumers the ability to record MP3s on the fly from any source.

The iFP-599T holds up to 34 hours of music (based on Windows Media format at 64kbps) and plays up to 28 hours from a single charge to its rechargeable lithium-ion battery. In addition to playing MP3, WMA and ASF music files, the iFP-599T allows customers to store all types of files when it is used as a portable drive.

iRiver also announced today the iFP-595T, which has the same features and functionality as the iFP-599T but comes with 512 MB of memory. Both players include a built-in FM tuner with presets, line-in MP3 encoding, voice-activated voice recording as well as FM tuner recording functionality.

“As the leader in flash memory players, we designed the iFP-500 series to set the bar again for best design, feature-set and capacity,” said Jonathan Sasse, president of iRiver America. “We are proud to continue providing the MP3 category with superior products, and the iFP-599T is clearly leading the way.”

Suggested retail price for the iFP-599T is US$449.99 and the iFP-595T is US$329.99.

MacDailyNews Take: Still think US$249 for Apple’s new 4GB ‘iPod mini’ is too much? More information about Apple’s new ‘iPod mini’ here.