Matte, anodized aluminum graces the faceplate, as with the previous generation of Nanos and now the i Pod Classic as well.
The back and sides of the Nano, however, mimic the Video i Pod's rounded, glossy, smudge-prone chrome enclosure.
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It's also one of the most affordable, with a 4GB (silver) model offered for $149, and an 8GB (silver, black, red, green, or blue) model for $199.
While the updated i Pod Classic and the new i Pod Touch are equally intriguing, the revamped Nano delivers the most bang for the buck.
And if you missed it, here's Sam Diaz's liveblog of the event, here's a ZDNet photo gallery from the event and here's a video of Apple CEO Steve Jobs returning to the stage.
Wall Street did not like the announcement: Apple (AAPL) shares were down 2.40, or 1.39%, in afternoon trading.
We certainly had our reservations, but in the hand, the latest Nano makes the second-generation Nano look like a skyscraper.