E1004 has no lustre of the previous models. The cost cutting seems very obvious, the plastic is of a cheap quality, the stereo speakers are gone, wi-fi is gone. The moment you hold the device in your hands, it gives an economy feeling. That said, guts and display remain the same, and has a pretty decent number of titles available, battery life is okayish, no change from the previous models, has a Memory Stick slot and UMD drive.
Pros:
Hackable - You know what to do, if you wish to
Cons:
Terrible and obvious cost cutting