Well with the e200, with rockbox you can just use folders. The sound quality is arranged by rockbox and sounds great. You can set an EQ and do whatever you want as well. The battery life is also 12 - 16 hours.
As for the clip, I dunno anything about that. My experience with the small players though is you either find a shitty unknown-brand one that breaks or has crappy buttons and an awkward interface, or you have to pay a little more but you get a lot more to upgrade to the more mainstream players.
Oh yeah, stay far away from Sony players as they force you to use shitty Windows software. It's real bad. If you can mod it or rig it somehow then by all means, but it's Sony's software that drags down those players, sorry. Otherwise they do look fantastic. Bought one, then the next day brought one back to the store. But it was a 6GB mini-hard disk based player with an OLED display, not the one you're talking about. I imagine it is the same deal though, as I have had another Sony player that required some different but equally shitty software.
The thing about the Sony players that is the worst though is they say they can play your MP3 and WMA files, but then when you put them on the player, what it really does is convert them into their format before storing it on the player and this takes a long time and plus recoding lossy files really makes the flaws of compression come out in the sound.
I agree that no "mass storage device" support really fucking sucks.