I posted a similar thread here:
http://mympxplayer.org/rockbox-open-...re-vt5810.html about trying to port the Rockbox open-source jukebox firmware to these generic/"chipod" players. I'm not a programmer, but it seems like Rockbox would be easier to port, because you do not need to write a whole new firmware for the player, just patch it so it will boot the Rockbox software. You should check it out and see what you think:
www.rockbox.org