I just picked one of these up today, and my first impressions are pretty positive.
For the price, the sound quality is definitely impressive, and the EQ is quite handy (and does make a noticeable difference to the sound quality). When the unit is turned on as well, it gradually increases the sound volume.
There is only two main gripes I have. When the Zune is playing, the backlight is always on (added light when you're trying to sleep). Secondly, you can't assign a specific radio preset to an alarm (something I could do on a few Sony clock radios I've owned over the years).
Overall though, the unit appears that it will serve me quite well -- and my Zune will always be charged when I
head out in the mornings now.